It’s not quite true to say that the private debt asset class grew up after the global financial crisis of 2007/08. But it was certainly the launch point for direct lending to become private debt’s most prominent strategy as the banks pulled back and left a space for alternative lenders to provide financing solutions for small and mid-sized companies.
From theory to reality – the next crisis is here
Private debt professionals have frequently shared the view that the good times couldn’t last forever. Amid the global spread of coronavirus, they are set to be challenged as never before.
