News & Analysis

Five LPs speak of an asset class in transition

The shift from direct lending to speciality finance, adapting to ESG requirements and responding to regulatory scrutiny: these are some of the evolutionary steps being taken by private debt. Five investors share their thoughts on changing times.

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A sense of adventure

German investors have traditionally adopted a conservative approach to the asset class. Yielco Investments’ Matthias Unser thinks they can be persuaded to accept more risk

Notoriously risk-averse and slower to embrace private debt than investors in the US and parts of Europe, German LPs were eventually persuaded to clamber on board the direct lending bandwagon around 2016-17.