Fund Management

Deal numbers are already climbing, and a mixture of further bank disintermediation and changes in private equity sentiment are likely to lead to more transactions in 2025.

Viral Patel considers the wide range of changes that new technology might bring in its wake.

The growth of private debt’s secondaries market has been rapid, mirroring to an extent its private equity equivalent. But greater specialisation may become a differentiating feature.

Onerous regulations since the global financial crisis have strangled the securitisation market and need attention, according to Jiri Krol of the Alternative Credit Council. In the latest Private Debt Investor Podcast, he also discusses key findings from the ACC's Financing the Economy report.

Medical services is a challenging subsector, but there are promises elsewhere, says a new white paper by the manager.

There are reasons to believe the sponsor-backed private debt deal market may be set for better times ahead, though some headwinds persist.

The manager says many borrowers will need a range of rescue capital solutions next year.

'Junior capital offers delayed draw capacity, which is a critical source of funding for sponsors with buy-and-build investment strategies seeking to make post-closing acquisitions.'

As the relationship between banks and debt fund changes, Michael Guarnieri and Nakul Karnik expect greater collaboration this year.

As 2025 is ushered in, investors are reasonably confident about private debt’s prospects – but concerned that some problems have been masked.