 What has your allocation to debt instruments been in recent years?
In the last two years, we have developed higher allocations to private debt. Currently, our allocations stand at approximately 9 percent. In the wake of Lehman we had literally zero allocation to credit. But as the picture changed, we quickly began developing our allocations through credit instruments, initially focusing on liquid credit, then moving into illiquid credit when the market began to pick up.
Five minutes with Nick Cavalla
An increasing number of LPs are boosting allocations to debt. Nick Cavalla, chief investment officer for The University of Cambridge Endowment Fund, explains why his fund is one of them.
