Asset owners turn to private credit in quest for returns
Top funds nearly double their allocations to asset class despite high risk potential
Nimisha Srivastava said manager selection will be very important to earning the desperately needed yield.
U.S. institutional investors are betting big that private credit will provide much-needed yield and an illiquidity premium to public debt, with assets nearly doubling in the year ended Sept. 30.
Private credit assets of the largest 200 U.S. retirement plans nearly doubled, up 93.1% to $50.2 billion in the year ended Sept. 30. It is also a 212% increase from 2018, when
Pensions & Investments first included private credit in its annual survey of the largest retirement plans.
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Amazon seeks to block resolution calling for racial audit
Saijel Kishan, Bloomberg News VIDEO SIGN OUT
Amazon.com Inc. is asking U.S. regulators to block a shareholder proposal from the New York State Common Retirement Fund that asked the company to conduct an audit on racism and diversity.
The US$226 billion pension plan co-filed a resolution last month calling on the worldâs largest online retailer to assess its impact on civil rights, racial equity, diversity and inclusion. The fund cited alleged discrimination of the companyâs Black and Latinx workers, their low wages and exposure to dangerous working conditions, including COVID-19, as well as air pollution from distribution facilities located in minority neighborhoods.
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