A global economic downturn has been anticipated for quite some time now, but no one could have foreseen the single factor that would suddenly tip markets into meltdown mode – a virus.
Covid-19 is wreaking its havoc across the world in quite spectacular style. So, amid the growing turmoil, how will the mid-market lending space stand up?
Answers to that question are mixed. Some firms are operating in a ‘business as usual’ mode, confident that portfolios are well-prepared to weather the storm. Others anticipate the emergence of new opportunities. But the overriding feeling is that this virus-driven downturn will, one way or another, be the acid test for private debt managers lending to the mid-market – 2020 is shaping up to be a roller coaster ride.