Money managers are betting investors will continue to shift a portion of real estate allocations to credit and that the new money pouring in won't swamp the investment opportunity.
Credit managers are raising mountains of capital for private credit vehicles just as some industry insiders recommend investor caution in light of faltering returns.
Some credit managers see investment opportunities in helping managers of collateralized loan obligations cope with the new risk retention requirements.
Institutional investors have been gorging themselves on alternative credit for more than half a decade, and their collective appetite shows little sign of abating.
Investment in private credit by institutions, in millions of dollars.