Oct 17, 2023

Liquid & Structured Credit

Haven't found much information about Liquid & Structured Credit Investing on this forum, so wanted to collect some thoughts on the space covering the following topics: 

  • What make a good liquid / structured credit investor and who are the top 3 players currently?
  • What opportunities are there currently in the space? (doesn't seem to be a great market atm)
  • What are some typical trades / investments an investor in the space would be looking to execute? What are the key return drivers and risks associated to them?
  • What have been the most unique or profitable trades / investments in the last 10 years? 
  • What makes the space exciting to work in and how do funds position themselves to attract LP commitments? (since '08-09 LPs seem sceptical to commit to these strategies in my op)
  • What are some key differences in terms of valuation / credit analysis / memo writing from traditional private credit / direct lending strategies?
  • Are there any interesting developments in the space? New vehicles / trade ideas that have proliferated in recent months / years? 
  • What are the most common investments in the space currently given all the macro/geo-political/bond market headwinds experienced currently?
  • Are there any primers out there with which someone can get up to speed quickly? 

Would really appreciate any insights on the above and apologies for the long post. 

2 Comments
 

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