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Mid-Market
Mid-market lending came in for scrutiny at Private Debt Investor’s Europe Summit in London, with investors raking over what defines the sector and where it needs to look next.
M&A activity will pick up as borrowers and lenders gain confidence from a more stabilised rate environment, says the firm's head of European mid-market private debt.
There are some common misconceptions associated with lower mid-market lending, says DunPort Capital Management’s Ross Morrow.
Direct lending deals are getting bigger – but arguably, the most compelling relative value still lies in the traditional or ‘true’ mid-market, say Barings’ Tyler Gately and Stuart Mathieson.
Stressed investments that don’t require restructuring can prove a rich source of performance, says Adam Phillips from RBC BlueBay Asset Management.
Default rates are starting to increase in the upper mid-market, making credit terms more important than ever, says TPG Twin Brook Capital Partners’ Kim Trick.
The mid-market appears all set for a soft landing after promising start to 2024.
Platform deal volumes may still be down, but portfolio-based activity is keeping lenders busy, say Churchill Asset Management’s Jason Strife and Mat Linett.
Manager finances energy storage developer as part of a broader expansion of US operations to take advantage of the Basel III endgame and ABL.
Tree Line’s 'underwriting discipline' attracted the insurance giant in its pursuit of exposure to mid-market direct lending.