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Private debt funds for smaller companies are raising or waiting to invest as much as they’ve ever invested
If the U.S. and Europe are moving toward the next downturn, someone forgot to tell investors in direct lending funds.
These funds make private loans to companies that aren’t large enough to warrant an investment bank arranging and selling their debt. They offer investors higher yields than bonds, while smaller companies like them because commercial banks are lending less since the 2008 crisis.