The market has already entered the early stages of a multi-year restructuring cycle that will present many opportunities for credit providers. Researchers and investors from GIC, CalPERS and IMCO recommend some organisational changes that will ensure asset owners can make the most of those opportunities.
The market has already entered the early stages of a multi-year restructuring cycle that will present many opportunities for credit providers. Researchers and investors from GIC, CalPERS and IMCO recommend some organisational changes that will ensure asset owners can make the most of those opportunities.
The largest single pension scheme in the United Kingdom, USS, took advantage of the dislocation due to COVID in 2020 and has bought credit assets and increased inflation and interest rate hedging.
Sampension, the DKK325.6 billion labour-market Danish pension fund has found a rich seam investing in AAA-rated CLOs where it earns a pick-up from traditional fixed income in loans with low default rates. The head of credit Anders Tauber Lassen says the fund feels "quite comfortable taking this type of risk".
HOOPP is in an extraordinary position of being 122 per cent funded. It continues to focus on innovative investments - such as credit derivatives - as a way to achieve its pension promise.
It is more than ever a “market of credits” rather than a “credit market”, according to Mercer, affording those with rigorous research coupled with patience, capital and flexibility the potential
The first valuation and risk measurement model created for unlisted infrastructure debt has been developed, with the release of a paper showing the valuation of illiquid infrastructure project debt, taking into account its illiquidity and the absence of market price feedback, can be done using advanced, state-of-the-art structural credit risk modelling. The paper by EDHEC-Risk
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