Market sentiment oscillated across 2023 as participants struggled to get a read on the trajectory and duration of the current rate-hike cycle.

Matt McLennan and Kimball Brooker, co-heads of the Global Value team, think current dynamics may imply unwarranted optimism about the potential for benign outcomes to the key risks facing investors.

Bill Hench, head of the Small Cap team, is enthused about the opportunities he saw to buy solid businesses at attractive prices and the potentially bountiful harvest that may result down the road.

Napier Park’s Chief Investment Officer Jon Dorfman and Head of Real Estate Strategy Rajesh Agarwal believe current supply/ demand dynamics in the US residential real estate market are likely to remain favorable.

After a challenging 2022, uncertainty was among the primary concerns facing the US private credit ecosystem—including nonbank lenders like First Eagle Alternative Credit as well as corporate borrowers and the private equity funds that sponsor them—heading into 2023.

Kimball Brooker, co-head of the Global Value team; Jon Dorfman, chief investment officer of Napier Park Global Capital; and Jim Fellows, chief investment officer of First Eagle Alternative Credit, discuss what current conditions may augur for 2024 and beyond.