Staff Writer

With the uncertain macro backdrop looking set to continue through 2025, Polina Kurdyavko at RBC BlueBay Asset Management looks at two emerging markets debt approaches that remain particularly compelling.

Straddling the worlds of equity and debt, Trent Hickman, co-managing partner at VSS Capital Partners, identifies a form of capital that offers business owners flexibility and incentivisation that offers business owners flexibility and incentivisation.

Private infrastructure debt fundraising has been dwarfed by private infrastructure equity fundraising despite infrastructure projects being 60-80% debt financed. Nuveen’s Don Dimitrievich expects that to change.

The bottom of the market has been reached and now there are potentially compelling upside opportunities, says Rupert Gill of Barings.

Niche asset-based speciality finance offers attractive yield for well-managed risk, according to CJ Wei, managing director in private credit at Northleaf Capital Partners.

Market players are increasingly recognising the advantages of pursuing hybrid credit strategies, say All Seas Capital co-founders Marc Ciancimino and Cristobal Cuart.

Thomas Duetoft, partner, senior portfolio manager and multi-strategy solutions lead at Pemberton Asset Management, highlights the factors driving more diverse investment opportunities for LPs.

Tech solutions are becoming increasingly sophisticated and can deliver the real-time reporting that private credit managers need to innovate throughout a fund’s lifecycle, says Kevin Hogan, group head of private credit at Aztec Group.

An evolving investor base is creating an environment in which private credit can flourish, says abrdn Investments' head of private credit Neil Odom-Haslett.

For those willing to build scale and adapt to local idiosyncrasies, Asia-Pacific has a lot to offer, according to Barnaby Lyons, a partner and the global head of special situations at Bain Capital, and Andrew Schantz, a partner in Bain Capital’s private credit team in Asia.