Assignments, Market Fundamentals and NDFI Risk, April 2026 - Checking in on Private Market Fundamentals

We built our 2026 outlook around three themes: (1) Based on accommodative capital markets conditions, we expected private market transaction volumes to extend the recovery that set in in 2025; (2) We emphasized that bank lending appetite is a key driver of fund finance origination volume and that balance sheet trends and capital regulation developments would likely support fund lending growth; and (3) We flagged a concern that higher interest rates could become a limiting factor to the... By: Cadwalader, Wickersham & Taft LLP