Napier Park Global is a Silver Sponsor of TEXPERS' 2022 Summer Educational Forum Aug. 21-23 in El Paso, Texas, and is sending Amit Sanghani, managing director and product specialist for the firm's global credit and real asset strategies.

“Go West, Young Man, and Grow Up with the Country!”  The famous line from Horace Greeley’s most famous editorial was about capturing and capitalizing on the opportunity and pioneering spirit in the West. Greeley’s East was crowded and stagnant, and the best opportunities and growth lay west of the Mississippi. The availability of exciting, new opportunities and entrepreneurism in the West still applies just as much today, especially for investors.

I began my career in 1994 marketing investment management services to public retirement systems in Texas and throughout the United States. I write this article to share a unique retirement planning concept for both active and retired public employees. 

The Texas Association of Public Employee Retirement Systems held its 2022 Annual Conference at The Worthington Renaissance Hotel in Fort Worth, Texas, April 3-6, 2022.

TEXPERS members are trustees, administrators, professional service providers, employee groups, and associations engaged or interested in managing public employee retirement systems.

As interest rates on investment grade bonds have fallen to near-zero, private credit has attracted increased interest from institutional investors. Callan expects that private credit will offer substantially higher yields and equity-like total returns while in some cases providing regular cash distributions. In exchange, investors must accept illiquidity, with individual loans having an average life of three to five years and fund terms typically ranging from five to ten years. Additionally, private credit potentially incurs higher credit risk as borrowers are often smaller than those able to access traditional credit markets.