[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcioedfeea0b":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcioedfeea0b","私募信贷行业危中存机，高盛(GS)静待逆势出击：竞争降温、利差趋高","\u002Fdoc\u002Fdcioedfeea0b","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，高盛(GS)表示，依靠更有黏性、更有耐心的机构投资者，而不是富有的个人投资者，帮助其规模达 157 亿美元的私募信贷基金勉强避免了今年困扰同行的普遍资金外流。现在，该公司正试图利用散户资金撤离的机会，趁竞争对手退缩之际趁机抢占先机。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">据周一提交的文件显示，管理一家所谓非上市商业发展公司(BDC)的高盛私募信贷公司(Goldman Sachs Private Credit Corp.)在第一季度满足了相当于其流通股4.999%的赎回请求。这与包括Blue Owl Capital(OWL)在内的同行形成鲜明对比，后者的赎回请求远高于行业普遍规定的5%上限。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">在资金外流的背景下，高盛观察到贷款环境正在发生“意义深远的转变”近年来推动规模达1.8万亿美元的这一资产类别崛起的激烈竞争开始缓和。基金经理在致股东的信中表示，这使得天平重新向贷款方而非借款方倾斜。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">高盛也在募集100亿美元的直接贷款基金，但它并非唯一一家看好这一投资机会的公司。Barings LLC旗下的一只基金周一遭遇了11.3%的赎回请求，该基金表示，限制赎回的决定将使其能够抓住1.8万亿美元市场动荡带来的投资机会。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">摩根士丹利(MS)和摩根大通(JPM)正计划设立新的基金投资于私募信贷，尽管后者首席执行官杰米·戴蒙警告称，杠杆贷款的损失将高于预期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">惠誉评级北美非银行金融机构主管Meghan Neenan表示，由于散户投资者持续观望，可能会出现一些“再平衡”现象，从而推高利差、契约条款和其他交易条件，使贷款方受益。“但这些影响需要一段时间才能体现在财务报告中，或对整体投资组合指标产生影响，”她补充道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">诚然，赎回仍然是市场的一大难题。迄今为止，已有超过80亿美元的资金被困在私募信贷工具中，预计投资者将在下个季度再次寻求比往常更大规模的赎回。此外，整个行业的业绩普遍下滑，2月份公布的亏损额为三年多来最严重。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">文件显示，截至今年2月底，高盛基金的回报率为0.4%，低于去年同期的1.3%。该基金试图与同行划清界限，称其是“同行中唯一一家回购请求低于5%季度上限的非上市商业发展公司”。高盛表示，尽管其基金的赎回请求仍高于第四季度的3.5%的水平，但净流入为正，认购额约为 10.4 亿美元。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">“需要明确的是，我们与其他非上市商业发展公司处于同一市场，我们当然无法免受行业动态的影响，”高盛基金经理写道。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">但他们表示，未受零售资金外流影响的贷款机构可以开始协商更严格的契约和其他保护措施，而借款人也必须支付更多费用才能获得新贷款。高盛称“我们通过维持一个以机构为导向的私人信贷平台，实现了资本来源的战略多元化，这意味着我们可以保持耐心，可以自行决定部署速度，并且与我们的贷款发起生态系统相结合，使我们在整个信贷周期中都拥有竞争优势。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]