Loan market opens up to new investors
The growing involvement of institutional investors in leveraged loans is bringing liquidity and transparency to markets traditionally seen as clubby and opaque. As an asset class, leveraged loans have a lot going for them - despite the current dearth of supply. But there is still a lot of work to be done.
|Loan market opens up to new investors|
When the $150 billion California Public Employees' Retirement System (Calpers) pension fund moves into a new asset class, the rest of the world tends to sit up and take notice. So it was when, last December, Calpers announced that it was allocating $1.5