Lee, Seung Kul; Kim, Hohyun - In: International Journal of Financial Studies : open … 13 (2025) 3, pp. 1-17
Institutional investors increasingly value alternative assets in strategic asset allocation, with private debt emerging … benchmarks. For that, many institutional investors still do not recognize or manage private debt as a distinct asset class. Thus …, this study aims to develop an optimized benchmark that reflects the unique characteristics of private debt, thereby …