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Long seen as adversaries, banks and private credit lenders are getting used to working together
Fahy will also lead asset-based finance origination
Direct lending default rates tick higher amid notable distressed situations
A Swiss borrower has already closed books and Austria's Egger will soon
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Delayed drawdowns are more common in private credit -
Banks encouraging investors to lend to cut out competition from other banks
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New research from Oxford University and Pemberton suggests once-niche financing is getting a stronger foothold
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Tightening trend in private credit pricing has reversed since April 2, but reliability is funds' trump card
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The asset manager sees higher demand than ever as direct lending proves solid during a crisis
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Direct lenders take the initiative as banks step back
