From the Current Issue

The evolution of private credit: The rise of specialized lending

by Paul Sisson and Kate Sarris

In 2022, economic uncertainty, rising interest rates and the need to preserve capital led traditional lenders such as banks, life insurance companies and CMBS investors to reduce their exposure to real estate. Industrial properties were particularly negatively affected, due to their recent emergence as a property type favored by the institutional equity investment community that had increasingly come to rely on debt to generate successively higher returns. Within this evolving landscape, the private credit market is ...

From the Current Issue

Talking Points: Quotations from people in the news

by

Ian Rickwood, founder and chairman of Henley Investment Management: “We see car washes as the next self-storage. The market has already attracted capital from corporate buyout private equity, such as KKR and Blackstone. However, we also see an opportunity for the private equity groups to follow suit in the near future, given the relatively low operational aspects of the business.”