RPM—Ep.32 | Fabian Körzendörfer: Relative Attractiveness of Direct Lending

As bond yields have risen, some investors have been questioning whether direct lending (DL) offers the same value proposition as it once did, but yields are only part of the equation. In this episode of RPM, Fabian Körzendörfer, a managing director on our private debt team, joins co-host Maribel Yoo to discuss how direct lending may offer attractive risk-adjusted returns. They discuss:

  • DL’s lower duration risk (01:02);
  • How direct lenders limit credit risk (2:51);
  • Liquidity features of DL (5:30)
  • Volatility of DL (9:34); and
  • DL’s drawdowns (11:23)

RPM is available on Apple PodcastsSpotifyStitcher—anywhere you normally get your podcasts. Subscribe today!

StepStone Group
StepStone Group

StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

W. Casey Gildea
Managing Director casey.gildea@stepstonegroup.com

450 Lexington Avenue, 31st Floor
New York, NY 10017

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