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LEADER 00000cam a2200805 i 4500
003 OCoLC
005 20240129213017.0
006 m o d
007 cr |||||||||||
008 181022s2019 nju ob 001 0 eng
010 2018050703
019 1081304184|a1081380297|a1081385907|a1100431681|a1119738930
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020 9781119501275|q(Adobe PDF)
020 111950127X
020 9781119501169|q(ePub)
020 1119501164
020 9781119501138|q(electronic bk. ;|qoBook)
020 111950113X|q(electronic bk. ;|qoBook)
020 |q(hardback)
029 1 AU@|b000064336452
029 1 AU@|b000066233019
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042 pcc
049 INap
082 00 658.15/2
082 00 658.15/2|223
099 eBook O'Reilly for Public Libraries
100 1 Nesbitt, Stephen L.,|d1953-|eauthor.
245 10 Private debt :|bopportunities in corporate direct lending
/|cStephen L. Nesbitt.|h[O'Reilly electronic resource]
250 First edition.
264 1 Hoboken :|bWiley,|c2019.
300 1 online resource
336 text|btxt|2rdacontent
337 computer|bn|2rdamedia
338 online resource|bnc|2rdacarrier
347 data file
500 Includes index.
504 Includes bibliographical references and index.
505 0 Overview of US Middle Market Corporate Direct Lending --
The Historical Performance of US Middle Market Direct
Loans -- Performance Comparisons to Other Asset Classes --
Current Yield or Yield to Maturity? -- Comparative Credit
Loss Rates -- How Liquid Are Direct Loans? -- Credit as a
Separate Asset Class -- Loans and the Theory of Credit --
Risk Premiums in US Middle Market Lending -- Covenants and
the Loan Agreement -- Should Direct Loan Portfolios Be
Leveraged? -- Business Development Companies -- Selecting
Direct Lending Managers -- Loan Valuation -- Investment
Fees -- Direct Lending and J curve Mitigation -- Portfolio
Construction -- Expected Returns and Risks from Direct
Lending -- Asset Allocation -- European Middle Market
Direct Lending -- The Borrower's Perspective -- Other
Private Debt Opportunities -- Free Access Conclusion.
520 "The essential resource for navigating the growing direct
loan market Private Debt: Opportunities in Corporate
Direct Lending provides investors with a single,
comprehensive resource for understanding this asset class
amidst an environment of tremendous growth. Traditionally
a niche asset class pre-crisis, corporate direct lending
has become an increasingly important allocation for
institutional investors' assets managed by Business
Development Company structures, which represent 25% of the
asset class, have experienced over 600% growth since 2008
to become a $91 billion market. Middle market direct
lending has traditionally been relegated to commercial
banks, but onerous Dodd-Frank regulation has opened the
opportunity for private asset managers to replace banks as
corporate lenders; as direct loans have thus far escaped
the low rates that decimate yield, this asset class has
become an increasingly attractive option for institutional
and retail investors. This book dissects direct loans as a
class, providing the critical background information
needed in order to work effectively with these assets.
Understand direct lending as an asset class, and the
different types of loans available Examine the
opportunities, potential risks, and historical yield Delve
into various loan investment vehicles, including the
Business Development Company structure Learn how to
structure a direct loan portfolio, and where it fits
within your total portfolio The rapid rise of direct
lending left a knowledge gap surrounding these
nontraditional assets, leaving many investors ill-equipped
to take full advantage of ever-increasing growth. This
book provides a uniquely comprehensive guide to corporate
direct lending, acting as both crash course and desk
reference to facilitate smart investment decision making"-
-|cProvided by publisher
520 "--CLIFFWATER: Cliffwater is one of the largest
alternative investment advisory firms, currently advising
on approximately $57 billion of alternative assets. In the
direct lending space, Cliffwater is a recognized thought
leader, and its executives are frequent speakers at
industry conferences. Cliffwater developed the first, and
to date only, index which directly tracks the performance
of approximately 6,000 individual direct lending
investments (www.CliffwaterDirectLendingIndex.com).
Similarly, Cliffwater created and maintains an index which
tracks the performance of publicly-traded BDCs
(www.BDCs.com), which represent an important segment of
the direct lending industry. As a result, they are well-
known in this space.-POTENTIAL AUDIENCE: The private debt
community is large and growing. Jonathan Bock maintains an
active distribution list of several thousand BDC focused
investment professionals. As this book will be written for
the broader institutional investor looking for a resource
on the asset class, the audience will include the general
investment community of endowments, foundations, family
offices, consultants, and retirement funds, all of which
can be tapped into as well. This is also complimentary, in
certain ways, to the CAIA suite of materials.-EVENTS:
Jonathan Bock/Wells Fargo hold an event with ̃1,000 in
attendance every November. Cliffwater has its own event
every Spring for ̃200 attendees and reaches 20-30 new
clients per month. Market description Institutional
investors, retail investors, and financial advisors"--
|cProvided by publisher
588 0 Print version record and CIP data provided by publisher.
590 O'Reilly|bO'Reilly Online Learning: Academic/Public
Library Edition
650 0 Investments.
650 0 Small business|xFinance.
650 0 Bank loans.
650 2 Investments
650 6 Investissements.
650 6 Petites et moyennes entreprises|xFinances.
650 6 Prêts bancaires.
650 7 Bank loans|2fast
650 7 Investments|2fast
650 7 Small business|xFinance|2fast
776 08 |iPrint version:|aNesbitt, Stephen L., 1953-|tPrivate
debt.|bFirst Edition.|dHoboken : Wiley, 2019
|z9781119501152|w(DLC) 2018049404
856 40 |uhttps://ezproxy.naperville-lib.org/login?url=https://
learning.oreilly.com/library/view/~/9781119501152/?ar
|zAvailable on O'Reilly for Public Libraries
938 Askews and Holts Library Services|bASKH|nAH34766872
938 EBSCOhost|bEBSC|n1995247
938 YBP Library Services|bYANK|n15962693
938 YBP Library Services|bYANK|n15963894
994 92|bJFN