DL’s lower duration risk

How direct lenders limit credit risk

Liquidity features of DL

Volatility of DL

DL’s drawdowns

As bond yields have risen, some investors have been questioning whether direct lending (DL) offers the same value proposition as it once did, but yields are only part of the equation. In this episode of RPM, Fabian Körzendörfer, a Managing Director on our private debt team, joins co-host Maribel Yoo to discuss how direct lending may offer attractive risk-adjusted returns. They discuss:


DL’s lower duration risk (01:08);
How direct lenders limit credit risk (2:57);
Liquidity features of DL (5:36)
Volatility of DL (9:40); and
DL’s drawdowns (11:29)

As bond yields have risen, some investors have been questioning whether direct lending (DL) offers the same value proposition as it once did, but yields are only part of the equation. In this episode of RPM, Fabian Körzendörfer, a Managing Director on our private debt team, joins co-host Maribel Yoo to discuss how direct lending may offer attractive risk-adjusted returns. They discuss:
 
<ul>
<li>DL’s lower duration risk (01:08);</li>
<li>How direct lenders limit credit risk (2:57);</li>
<li>Liquidity features of DL (5:36)</li>
<li>Volatility of DL (9:40); and</li>
<li>DL’s drawdowns (11:29)</li>
</ul>

StepStone Group explores the world of Private Markets through conversations with our thought leaders on key developments across private equity, private debt, real estate, and infrastructure. In each episode a member of StepStone’s investment team will discuss the data, trends, and insights helping shape investors' portfolios.

StepStone Group explores the world of Private Markets through conversations with our thought leaders on key developments across private equity, private debt, real estate, and infrastructure. In each episode a member of StepStone&rsquo;s investment team will discuss the data, trends, and insights helping shape investors' portfolios.

RPM - Reflections on Private Markets

StepStone Group explores the world of Private Markets through conversations with our thought leaders on key developments across private equity, private debt, real estate, and infrastructure. In each episode a member of StepStone’s investment team will discuss the data, trends, and insights helping shape investors' portfolios.

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