Discipline and Opportunities in Private Markets

The private market offers a disciplined environment with bilateral terms, strong covenants, and asset-backed deals that can provide protection and access. Despite concerns about illiquidity, these deals can amortize and have shorter average life, ensuring capital is not locked up indefinitely. With diversification, favorable terms, and market mispricing opportunities, the private market remains an attractive place for capital investment, especially considering the cautious approach towards interest rates by key figures in the market.