🗞️ Sunday Digest: Private Markets Insights
CRE special servicing hits $92B, GP-led secondaries surge, and private credit tightens its grip on the middle market.
Happy Sunday!
A record $92B in CRE loans are now in special servicing, as the Fed cautions prices in CRE may not reflect the full picture. This is a new post-GFC high. Meanwhile, on the private credit side, we are seeing an increase in use of payment-in-kind (PIK) structures. You know what else is rapidly growing? Continuation funds.
No rest for the weary LPs.
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🏢 CRE Distress Hits Tipping Point
Distressed CRE loan volume just hit a post-GFC high.