
- English
- ePUB (mobile friendly)
- Available on iOS & Android
About this book
An essential resource for creating outsized returns in the private debt markets
In Private Debt II: Finding Yield in a Zero Interest World, renowned investment advisor and industry leader Stephen Nesbitt delivers yet another essential resource for investors seeking to acquire private debt options in the investment market, including corporate direct lending, asset-backed lending, mezzanine lending, royalties, venture debt, structured credit (CLOs), specialty finance, and structured equity.
Building on the success and popularity of Private Debt: Opportunities in Corporate Direct Lending, this latest edition of the author's flagship text helps readers understand this complex and rapidly growing asset class. The book also offers:
- Explorations of the opportunities, relevant risks, and historical yield provided by private debt
- Discussions of a variety of loan investment vehicles, including the Business Development Company structure
- Strategies for structuring a direct loan portfolio and how to fit it into your overall investment strategy
A can't-miss resource for serious investors looking for opportunities to earn higher yields than those offered by traditional index funds while still retaining reasonable safety of principle and liquidity, Private Debt II will undoubtedly become the go-to guide for anyone looking for tried and tested debt investment strategies.
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Information
Table of contents
- Cover
- Table of Contents
- Title Page
- Copyright
- Introduction
- List of Exhibits
- Acknowledgments
- CHAPTER 1: Overview of US Middle Market Corporate Direct Lending
- CHAPTER 2: The Historical Performance of US Middle Market Direct Loans
- CHAPTER 3: Performance Comparisons to Other Asset Classes
- CHAPTER 4: Current Yield or Yield to Maturity?
- CHAPTER 5: Comparative Credit Loss Rates
- CHAPTER 6: How Liquid Are Direct Loans?
- CHAPTER 7: Middle Market Loans as a Hedge Against Rising Interest Rates
- CHAPTER 8: Credit as a Separate Asset Class
- CHAPTER 9: Senior and Unitranche Direct Lending
- CHAPTER 10: Loans and the Theory of Credit
- CHAPTER 11: Risk Premiums in US Middle Market Lending
- CHAPTER 12: Covenants and the Loan Agreement
- CHAPTER 13: Should Direct Loan Portfolios Be Leveraged?
- CHAPTER 14: The Democratization of Alternatives
- CHAPTER 15: Business Development Companies (BDCs)
- CHAPTER 16: Interval and Tender Funds
- CHAPTER 17: Selecting Direct Lending Managers
- CHAPTER 18: Loan Valuation
- CHAPTER 19: Investment Fees
- CHAPTER 20: Portfolio Construction
- CHAPTER 21: Expected Returns and Risks from Direct Lending
- CHAPTER 22: Asset Allocation
- CHAPTER 23: Direct Lending Performance Under a Volcker‐like Fed Policy Regime
- CHAPTER 24: Enter SOFR
- CHAPTER 25: European Middle Market Direct Lending
- CHAPTER 26: The Borrower's Perspective
- CHAPTER 27: Enhanced Lending
- Conclusion
- Glossary
- About the Author
- Index Citations
- Index
- End User License Agreement