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Institutional investors are still in the discovery phase, but all the signs point to growth in both fundraising and deployment, say Campbell Lutyens head of private debt advisory group Richard von Gusovius and private debt specialist Jeffrey Griffiths.

Talking Points: First Eagle’s Tim Conway discusses managing through credit cycles and the importance of experience, in 10 charts.

The hardest thing for investors is to gauge where they should be on the risk spectrum, say Paul House and Beatrice Dupont of Venn Partners.

With LP demand for private debt at an all-time high in Europe, managers can afford to look further afield to broaden their investor bases, say Spencer Wells and Patrick McCullagh of Alter Domus.

As investors weigh up portfolio resilience ahead of a downturn, Partners Group’s Christopher Bone and Alexander Ott examine the key considerations amid uncertainty across the continent.

Investors are increasingly looking outside the plain-vanilla strategy, with the secondaries market of growing interest, say Tavneet Bakshi and Christian Allgeier of FIRSTavenue.

Being a lead arranger allows a credit manager the ability to negotiate deals, which in the lower mid-market tend to have better lender protections, says Twin Brook Capital Partners’ Garrett Ryan.

Lending to non-sponsored businesses or underbanked industries requires greater resources but can generate higher returns, say Robert O’Sullivan, Greg Reynolds and Jason Gelberd of Comvest Partners

Can the statistical model that revolutionised a great American sport be applied to private debt? Tom Quimby, managing partner with Tree Line Capital Partners, thinks it can

The growing size and complexity of the private debt market requires ever more responsive administrative systems to meet investors’ and regulators’ demands, say Maximilien Dambax and Tom Gandolfo of Alter Domus