TAHAN CAPITAL INSIGHTS

Singapore investors are becoming more deliberate in how they build portfolios. As highlighted in an article by The Business Times this week, a recent survey found that 𝗱𝗼𝘄𝗻𝘀𝗶𝗱𝗲 𝗽𝗿𝗼𝘁𝗲𝗰𝘁𝗶𝗼𝗻 and 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗽𝗿𝗲𝘀𝗲𝗿𝘃𝗮𝘁𝗶𝗼𝗻 have emerged as the most important portfolio priorities for Asia-Pacific investors. In Singapore, 64% of investors now rank capital preservation as a top priority, well above the 44% regional average. This shift is taking place al

Most participants find our development programme challenging - one intensive week covering basic accounting, financial analysis & modelling, credit analysis & structuring, plus overviews on legal documentation and hybrid capital. For the finale, we break up the participants into groups to work on different case studies, which are then presented to our investment team. Admittedly, it is a lot of information to assimilate and apply onto a case study in one week. It requires gen

Private credit's growth in the US has been closely tied to private equity buyouts, where sponsors often backed asset-light, high-growth technology companies. Over time, this has created meaningful sector concentration in software and tech across many private credit portfolios, where exposure to the software sector is estimated to be approximately 20-35%. A recent The Wall Street Journal article also flagged that some of the largest US private credit funds may carry 𝗴𝗿𝗲𝗮

𝗧𝗵𝗲 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝗶𝗻 𝗔𝘀𝗶𝗮 𝗽𝗿𝗶𝘃𝗮𝘁𝗲 𝗰𝗿𝗲𝗱𝗶𝘁 𝗶𝘀 𝗻𝗼𝘁 𝗮𝗯𝗼𝘂𝘁 𝘁𝗮𝗸𝗶𝗻𝗴 𝗼𝗻 𝗶𝗻𝗰𝗿𝗲𝗺𝗲𝗻𝘁𝗮𝗹 𝗿𝗶𝘀𝗸 𝘁𝗼 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗲 𝗿𝗲𝘁𝘂𝗿𝗻𝘀. Rather, it lies in being appropriately compensated for disciplined lending in an underserved market. As Howard Marks observed, “If we avoid the losers, the winners will take care of themselves,”, and as Charlie Munger noted, “The first rule of compounding: never interrupt it unnecessarily.” In t