Private Debt
eBook - ePub

Private Debt

Yield, Safety and the Emergence of Alternative Lending

  1. English
  2. ePUB (mobile friendly)
  3. Available on iOS & Android
eBook - ePub

Private Debt

Yield, Safety and the Emergence of Alternative Lending

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

Publisher
Wiley
Year
2023
Print ISBN
9781119944393
Edition
2
eBook ISBN
9781119944409

Table of contents

  1. Cover
  2. Table of Contents
  3. Title Page
  4. Copyright
  5. Introduction
  6. List of Exhibits
  7. Acknowledgments
  8. CHAPTER 1: Overview of US Middle Market Corporate Direct Lending
  9. CHAPTER 2: The Historical Performance of US Middle Market Direct Loans
  10. CHAPTER 3: Performance Comparisons to Other Asset Classes
  11. CHAPTER 4: Current Yield or Yield to Maturity?
  12. CHAPTER 5: Comparative Credit Loss Rates
  13. CHAPTER 6: How Liquid Are Direct Loans?
  14. CHAPTER 7: Middle Market Loans as a Hedge Against Rising Interest Rates
  15. CHAPTER 8: Credit as a Separate Asset Class
  16. CHAPTER 9: Senior and Unitranche Direct Lending
  17. CHAPTER 10: Loans and the Theory of Credit
  18. CHAPTER 11: Risk Premiums in US Middle Market Lending
  19. CHAPTER 12: Covenants and the Loan Agreement
  20. CHAPTER 13: Should Direct Loan Portfolios Be Leveraged?
  21. CHAPTER 14: The Democratization of Alternatives
  22. CHAPTER 15: Business Development Companies (BDCs)
  23. CHAPTER 16: Interval and Tender Funds
  24. CHAPTER 17: Selecting Direct Lending Managers
  25. CHAPTER 18: Loan Valuation
  26. CHAPTER 19: Investment Fees
  27. CHAPTER 20: Portfolio Construction
  28. CHAPTER 21: Expected Returns and Risks from Direct Lending
  29. CHAPTER 22: Asset Allocation
  30. CHAPTER 23: Direct Lending Performance Under a Volcker‐like Fed Policy Regime
  31. CHAPTER 24: Enter SOFR
  32. CHAPTER 25: European Middle Market Direct Lending
  33. CHAPTER 26: The Borrower's Perspective
  34. CHAPTER 27: Enhanced Lending
  35. Conclusion
  36. Glossary
  37. About the Author
  38. Index Citations
  39. Index
  40. End User License Agreement

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