“It provides flexibility during the ramp phase”

RBC BlueBay’s Sid Chhabra on the rise of delayed-draw triple As, which can help European CLOs avoid negative carry while being put together

Spire’s Oliver Drummond Smith explains his funds’ 8% February return.

“Our estimates indicate that once we adjust for fees and risks, private debt funds provide their investors with returns just appropriate for the risks they face, but not more”

Isil Erel, Thomas Flanagan & Michael S. Weisbach got headline writers the worldover excited with a paper published in the NBER called “Risk-Adjusting the Returns to Private Debt Funds”