Fund Management

The M&A market is proving sluggish, meaning credit funds reliant on the private equity-sponsored arena are facing a challenge. Creativity is the way to respond.

Evergreen vehicles are growing in popularity across alternative assets and in private debt in particular, say Proskauer’s Joshua Jones and James Oussedik.

The firm’s entry into private debt with a direct lending fund will target sponsored and non-sponsored companies.

Andrew Bellis, head of private debt at Partners Group, discusses the complementary nature of the broadly syndicated loan and private debt markets.

Credit is a huge market overall in Asia-Pacific but private debt represents only a small proportion. Andrew Schantz of Bain Capital outlines the opportunity ahead.

The rapid growth of private debt is testing the mettle of loan administration teams, say Michael Von Bevern and Harvey Tian of Suntera Fund Services.

Whether you opt to outsource or run your own team, experience is key, says Greg Myers, global sector head, debt capital markets at Alter Domus.

It’s a topic that will be under consideration at our upcoming PDI Germany Forum: the likelihood of risk-averse investors being tempted by private debt’s ‘next big thing’.

Goodwin attorneys suggest this is a symptom of a change in the balance of power between private equity and private credit in distressed circumstances.

Insurance companies are already private debt’s most committed supporters, but the relationship has the potential to deepen further.