Former regulators say FSOC may struggle to measure systemic risk in repo, loan markets
US insurer holdings hit $122 billion in Q4 2018
High yield borrowers relying on a steady stream of leveraged loan issuance that could quickly run dry
Originate-to-distribute engine revs up
Structures are more solid, but loans are dicier, and recovery rates may be disintegrating
Risk Awards 2019: Goldman’s long-serving CRO helped bank survive the crisis, and then adapt to new world
Non-investment grade exposures make up 31% of total corporate exposures
It is the acceptable face of shadow banking. But is too much money chasing too few opportunities in private credit?
Asset manager plans to be liquidity provider if US credit market is distressed
Family wealth funds are dumping hedge fund positions and taking control of their own investment decisions. But as some move into direct lending – to replace retreating banks – they face new risk management challenges. Peter Madigan reports
Alcentra says sub-investment grade leveraged loans are becoming an accepted asset class in Europe as the market develops. Institutional investors are the norm in Europe compared with retail in the US.
Rich Farley joins from rival, Cahill Gordon & Reindel