As private credit matures, the conversation is no longer just about whether opportunistic strategies can outperform, but about how much volatility institutional LPs are actually prepared to underwrite for that upside. This panel will bring together LPs and GPs to dissect differing expectations between opportunistic credit and more predictable direct-lending portfolios, exploring how investors define acceptable drawdown and mark-to-market volatility, especially amidst sticky inflation and anticipated shallow rate cuts. What are the critical levels of transparency, borrower-level reporting, and ongoing monitoring required to sustain confidence through a full cycle? Does the return premium in opportunistic credit truly compensate for its inherent complexity and dislocation, or are LPs now demanding direct-lending-style discipline from a strategy designed for higher risk?
