To address the growing popularity of private credit among asset owners, the Institutional Limited Partnership Association, Washington, launched a new educational course this year that provides allocators with a comprehensive overview of the asset class.
The private credit course is offered through ILPA Institute, which provides ongoing professional education to private equity investment officers, many of whom have had responsibility for private credit investment added to their duties, said Matthew Kelly, managing director education.
ILPA partnered with New York-based alternative investment consultant Aksia LLC to offer the classes.
Sylvia Owens, Aksia's global private credit strategist who is teaching many of the classes, said in an email: "It's really exciting to see the enthusiasm from the ILPA members who have taken the course. While the course is designed to be relevant for a variety of backgrounds and experience, we have actually seen the audience tilted toward senior investment professionals, like CIOs and heads of alternatives, given the nascent nature of the asset class."
The class covers issues including the rise of institutional investment in private credit; manager selection and due diligence; and monitoring and risk management.
The first nine of the 10 private credit classes offered this year were well attended and the last session of the year on Dec. 5 in New York is sold out with a waiting list, Mr. Kelly said. Classes in 2019 were conducted in the U.S., Europe, South America and the Middle East; next year, classes likely also will be offered in Australia, New Zealand and Asia.
Information about ILPA's 2020 series of private credit workshops is available on the association's website .