A Decade of Private Debt

Where did the time go? A Decade of Private Debt celebrates 10 years of Private Debt Investor with reflections on all the key developments of the decade – plus a peek at the future.

In this six-episode podcast miniseries, PDI’s editorial team talk to some of the leading figures in the debt industry to reflect on the remarkable growth of private debt as an asset class. They look at its origins up through the pre-financial crisis days, when mezzanine funds were a rather exotic sub-category of the private equity universe.

By the time PDI was launched in 2013, private debt was emerging as an asset class in its own right – with GPs spotting an opportunity to raise funds for corporate lending, given the gap in the market created by the retreating banks and LPs beginning to carve out private debt-specific allocations. Today, of course, the asset class covers a wide range of strategies and has moved firmly into the investment mainstream.

Listen to A Decade of Private Debt to hear six changemakers of the industry reflect on the past decade and look ahead at what’s to come.

Ares’ CEO Mike Arougheti on the huge potential for future growth

In the first episode of A Decade of Private Debt, PDI senior editor Andy Thomson sits down with Mike Arougheti, the CEO, co-founder and president of Ares Management. Arougheti gives insights on a decade of strategic growth in private credit, emphasizing the importance of enduring relationships and the misunderstood, yet resilient nature of the market.


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LCM’s Paul Burdell on finding gaps in the market

In this episode of A Decade of Private Debt, PDI senior editor Andy Thomson speaks with Paul Burdell, the CEO of LCM Partners. Burdell discusses the evolution of private debt and banking oversight over the past decade, the impact of regulations, as well as LCM’s unique position in the industry.


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Kartesia’s Julien Rigon on how LP pressure has shaped ESG

For the third episode of A Decade of Private Debt, PDI senior editor Andy Thompson is in the studio with Julien Rigon, Kartesia’s head of France. Rigon reflects on the past decade from an ESG perspective, as well as gives insight into how the industry will evolve considering today’s sustainability agenda.


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Pemberton’s Symon Drake-Brockman on the building of a pan-European GP

In today’s episode of A Decade of Private Debt, PDI senior editor Andy Thomson sits down with Pemberton’s co-founder and managing partner Symon Drake-Brockman. Drake-Brockman discusses how the industry has evolved over the past decade, as well as the process of shaping Pemberton into the powerhouse it is today.


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ELFA’s Sabrina Fox on the tussles that have shaped deal agreements

In the fifth episode of A Decade of Private Debt, PDI’s senior editor Andy Thomson sits down with Sabrina Fox, CEO of the European Leveraged Finance Association. Fox, an expert on loan documentation, reflects on her personal experiences of the past decade, as well as the highs and lows of borrower/lender deal negotiations within the industry.


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Apollo’s Akila Grewal on the firm’s strategic evolution

In this episode, PEI Group senior special projects editor Chase Collum sits down with Akila Grewal, partner in client and product solutions at Apollo. Grewal discusses the growth and progression of the private debt business at Apollo and her own journey in the industry.


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