Banks May Tighten Borrowing Bases Amid BDC Outflows
"It is possible that in response to non-traded BDC outflows, banks like JPM could become more diligently managing (down) borrowing bases to avoid being the funding source of those retail outflows." -- Via Wells Fargo analysts https://t.co/0vm2LXopvD
Cliffwater Redemption Rate Hits 14%, Within Predicted Range
Saba Capital’s @boazweinstein called the Cliffwater redemption rate in yesterday’s ’Inside Alts, where he said it would be between 10% and 20%. (Cliffwater’s Q1 redemption rate was 14%, according to a source familiar with the matter) https://t.co/hplp7WPkAp
Morningstar Flags Discounted BDC Asset Sales as Rating Risk
Morningstar warning to BDCs: "We view selling assets at substantial discounts to fair value as a significant sign of stress, which would likely have negative credit rating implications."
Boaz Weinstein Discusses Private Credit Strategies
Our latest "Inside Alts" newsletter comprises a half-hour interview with Boaz Weinstein on private credit. https://t.co/EpwRZMKNzH https://t.co/ncDLXCEHm3