Credit Funds Tracker: 4 December 2020
Institutional investors have allocated around $2 billion to credit funds in recent weeks.
ADM, Arcmont, Ares, Audax, Bain, Centerbridge, Clearlake, Goldman Sachs, Invesco, Monarch, Oaktree, Raven, Sixth Street and Sound Mark are among those to win mandates.
But investor uncertainty is at the forefront. According to a recent survey by Acuris Studios, on behalf of law firm Ropes & Gray, 30% of credit managers cited general investor uncertainty as the biggest fundraising challenge for 2021.
The catch-22 for investors is that, despite concerns over risk and wanting to maintain downside protection, they still have money to deploy and return profiles to meet. The coronavirus dislocation has provided opportunities for greater returns. But 33% of investors said they were Initially focused on downside risks and had shifted to upside return profiles while 30% said allocations were the same throughout with focus on downside risks.
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