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The role of local scale, vertical integration and platform control in sourcing and managing mid-market opportunities, by Enrico Sanna, CEO of Platforms at Arrow Global.

The uncertain macro backdrop makes European mid-market direct lending an attractive place to invest right now, say AlbaCore Capital Group’s Bill Ammons and Luke Gillam.

The Chinese debt market may have been around for two decades, but there are still many misconceptions around private credit in the world’s second-largest economy, says Benjamin Fanger of ShoreVest Partners.

Lenders that focus on asset risk rather than credit risk are liberated from the cycle of refinancings, write Paul Lisiak, CIO, and Daniel Leger, senior managing director, at Metropolitan Partners Group.

An uptick in M&A may not yet have materialised, but the direct lending market remains well positioned for growth, says Michael Occi, a managing director in Morgan Stanley’s private credit team.

Maintaining a consistent approach to terms and deployment is something LPs value in the mid-market lending space, say Ted Denniston and Joe Lazewski, co-heads of NXT Capital.

Private debt has a critical role to play in improving the competitiveness of European companies and in helping to create global leaders, says Peter Arnold, head of private assets at LBP AM European Private Markets.

Mid-market services businesses are relatively insulated from the effects of trade policy and represent attractive opportunities for private capital, argue Churchill Asset Management’s Mat Linett and Jason Strife.

Different lending strategies can result in different outcomes, explains Trevor Clark, founder and managing partner at TPG Twin Brook.

The lower mid-market presents an attractive opportunity to secure advantageous deal terms in pursuit of higher risk-adjusted returns, says Grier Eliasek, president of Prospect Capital.