Separating the Wheat From the Chaff in Direct Lending

Investors have continued to flock to direct lending throughout the post-GFC era. The current market environment, however, is starting to highlight that a rising tide does not necessarily lift all boats. Against this backdrop, TPG Twin Brook Managing Partner Trevor Clark recently sat down with Pensions & Investments to discuss some of the key factors impacting lenders’ abilities to manage through today’s complex environment and why he believes current market dynamics may result in greater dispersion in default rates and returns within the direct lending space.