Amidst market uncertainty imposed by the pandemic and interest-rate hikes, portfolios have thrived in private credit; both CalSTRS and the CAIA Association hosted asset managers to discuss the asset class.
Multiple stress points are emerging in credit markets after years of excess from banks stuck with piles of buyout debt and a pension blowup in the U.K., to real estate troubles in China and South Korea.
High-yield corporate bonds have been among the hardest-hit asset classes this year, but these Oaktree Capital managers say the moment to pounce is approaching.