Private Credit in Europe | Co-hosted with Pemberton Asset Management

The global private credit market is broad and deep, but there are regional differences between the various private credit markets.

In this webinar co-hosted with Pemberton Asset Management’s Symon Drake-Brockman, we delve into the unique characteristics of the European private credit market and assess how the pandemic has affected the sector, what the deal flow is going to look like in the coming months and how direct lending is quickly becoming a dominant strategy in this market.

Transcript (with timings)
2:09 – Differences between European vs other private credit markets
4:10 – 40% of the private credit financing in Europe now comes through institutional fund platforms with the top 10 managers in Europe accounting for 60-65% of the activity
6:09 – Creditor protection and legal processes across Europe have improved in the past 10 years
10:02 – Europe is still in the process of moving to non-banking providers, and in the early stages of sector consolidation
11:53 – Huge growth opportunities for lenders over next 5 years.
13:34 – Has the pandemic affected the growth of the market?
16:07 – Different sectors have been financed over the last 2 years
17:11 – Background to research study by Saïd Business School-University of Oxford
19:48 – A structural change in the European banking system is underway, although some countries are still lagging
21:41 – Recovery rates in private markets are more attractive than public markets
22:15 – The relationship between private equity and private credit has evolved
25:27 – How much dry powder is there in the marketplace?
27:03 – Volumes between 2019 and 2021 have changed significantly
29:45 – Interest rates and inflation are affecting yield and markets are looking elsewhere
33:06 – Other (non-direct lending) opportunities in the private credit sector
36:03 – Spreads in the private lending market

Presenter: Symon Drake-Brockman, Managing Partner, Pemberton Asset Management
Moderator: Wouter Klijn, Director of Content, Investment Innovation Institute [i3]

Investment Innovation Institute [i3]
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