Morgan Stanley Investment Sees Decade-Best Credit Opportunities
- Private firms have big need for rescue capital amid disruption
- Retail, hotels are facing significant stress in real estate
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Morgan Stanley Investment Management is seeing fertile ground for putting capital to work in certain pockets of private markets where mid-sized firms are facing a liquidity squeeze.
“Companies that have had some disruption but are fundamentally sound are looking for creative capital -- could be debt-like, could be equity-like,” said David Miller, head of the firm’s private credit and equity business, at a Thursday virtual panel. “So credit opportunity broadly is the most attractive it’s been in a decade and that’s going to continue well into 2021.”