Europe

As North American private credit reels from scathing headlines, Europe appears relatively insulated. Have the asset class’s two most important regions gone their separate ways?

Macroeconomic shocks and the outbreak of conflict in recent years has brought energy sovereignty into sharp relief, and private credit is in a prime position to help nations reduce their reliance on finite fossil fuels.

The energy transition opportunity is now being driven by realism and commercial objectives more than climate philosophy or government policy, says Don Dimitrievich, global head of Nuveen Energy Infrastructure Credit.

Francesco Martorana will start at the Swiss insurer this week after around 13 years at Italian rival Generali, with his predecessor at Zurich taking up a new role.

Apollo Debt Solutions saw gross outflows of $400m for the second quarter of 2026.

Sweden’s LF, the Netherlands’ NN Group and UK firms Pension Insurance Corporation and Foresters Friendly Society are exploring new opportunities in illiquid credit.

The insurer’s head of portfolio management, Roman Hederer, sees more opportunities and value now in the asset class than a few years ago, particularly in Europe.

The deal will make Ares’s private markets products available to a wider range of wealth managers.

The 2026 list will feature individuals under the age of 40 whom we believe have the ability and potential to shape the asset class in the years ahead.