Private Credit – 4 minute Investor Update
Summary:
CEO of Pengana Credit, Nehemiah Richardson provides an update on the performance of Pengana Credit’s Wholesale Private Credit Fund, launched in October 2023.
The Fund operates as a multi-manager, multi-strategy private credit fund, investing in managers across bilateral loans and structured finance providers in the US and Europe.
Richardson notes a shift in the market towards more certainty regarding interest rates, resulting in increased origination opportunities and deal activity across all strategies. He highlights the high quality of deal flow and terms, leading to above-target yield performance and returns.
Additionally, asset quality remains strong, with minimal defaults and favorable pricing and protections. Nehemiah expresses confidence in continued strong origination activity and asset quality, regardless of economic conditions, projecting positive performance going forward.
