'The $1bn private loan is here to stay,' says David Allen, CIO of AlbaCore
![David Allen_AlbaCore Capital.jpg](https://assets.euromoneydigital.com/dims4/default/a0b0488/2147483647/strip/true/crop/1791x1558+0+0/resize/840x731!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fec%2Ffe%2F32b381394b9aa420cbd7861c1fc6%2Fdavid-allen-albacore-capital.jpg)
Private credit specialist sees sharp growth in direct lending, but questions the efficacy of using IRR figures to judge a fund's performance
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