Insights

High-income assets will likely benefit, but investors should avoid complacency, particularly given the unpredictability of macroeconomic factors. In the current installment of The Roundup,1 Oaktree experts examine the risks and opportunities in various asset classes.

The fundraising climate is dynamic, with higher levels of activity compared to pre-2021 benchmarks.The venture industry is more active than any time before 2021, with over 500 rounds of $2M+ raised by European startups in Q1 2024. Valuations are more heavily weighted towards earnings than revenues. In Q2 2024, EBITDA multiples generally rose, while revenue multiples fell.

After a decade of booming activity in mid-market direct lending, many lenders are eyeing an opportunity to diversify away from cash flow-based lending into more esoteric asset-based finance. Whether lending against portfolios of performing or non-performing consumer loans, music royalties or trade finance receivables, the asset-based credit landscape is a fast-expanding frontier for creative lenders. 

Part 2: Dark sides of Fintech lending...and why the market needs to be revolutionised to capture its full potential. This is a three-part series about what’s wrong with the Fintech lending value chain as we know it and why we believe it needs to be revolutionised for it to truly prosper and grow into what it can be

Part 1: Dark sides of Fintech lending...and why the market needs to be revolutionised to capture its full potential. This is a three-part series about what’s wrong with the Fintech lending value chain as we know it and why we believe it needs to be revolutionised for it to truly prosper and grow into what it can be