KKR集团|2024:一个值得纪念的年份.pdfVIP

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  • 2024-01-25 发布于北京
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December2023MarketReview

KKRCreditMarkets

2024:ACreditVintagetoRemember?

41011

MarketRisk:TheFixedvs.FloatingRatesinaTheNon-Corporate

ElephantintheRoomChangingMonetaryEnvironmentSideofPrivateCredit

Writtenby:ExecutiveSummary

In2024,wethinktheconditionsareripeamongthemost

ChristopherA.Sheldon

PartnerandCo-Headattractivenewvintagesandopportunitiesinsometimeacross

CreditMarketsthecreditspectrum,includingprivateandpubliclytraded

credit.Lendersshouldcontinuetobenefitfromrelatively

RoryOFarrellscarcecapitalconditionstoreachhigh-qualityborrowerson

Director,attractiveterms.Assetbuyers,ontheotherhand,arelikelyto

ClientPartnerGroup

engageinmoretransactionsasvaluationscomedown,and

thetransactionsarelikelytobelessreliantonleverage.It’salso

importanttorememberthatnotallprivatedebtiscorporate.

Asset-basedfinanceoffersimportant,diversifyingexposure

KeyThemestonon-corporatecashflows,andboththeassetclassandthe

Inthisletter,we’llfocusontheopportunitiesitoffersaregrowingasbankscontinuetopull

opportunitiesinbothprivatebackoncollateral-basedlending.

andliquidcreditmarkets.How

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