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Martin Priestley, TH Real Estate’s head of debt for Asia-Pacific, explains why Australia and New Zealand are attractive markets for commercial real estate debt managers seeking relative value in the region

Christian Janssen, head of European debt at TH Real Estate, talks about the opportunities in the UK market and the underlying investment rationale for real estate lending in the rest of Europe

Philip Robson and Theresa Shutt, president and chief investment officer, respectively, of IAM Private Debt, discuss competition in Canada and the macro risks facing the North America market.

Even at this stage in the cycle, industry experts say conditions in the US private debt market are just right for LPs seeking to fill that sweet spot in their portfolio.

Capital inflows and new entrants to the market have made investing conditions tougher, but Brent Humphries, president at AB Private Credit Investors – the direct lending platform of global asset manager AllianceBernstein – says opportunities can still be found.

In a competitive US private debt market, maintaining discipline can be a challenge. The head of capital markets at Twin Brook Capital Partners explains the value of being selective.

Economic momentum and profit growth remain strong, and Antares remains bullish about its portfolio, senior managing director and co-head of sponsor coverage Tim Lyne said.

With the deal market for private equity-backed companies red hot, alternative lenders should maintain their discipline and work with those sponsors backing the portfolio companies, Twin Brook Capital Partners partner Grant Haggard said.

Divergences in risk retention and loan market size can mean making heads and tails of CLOs on both sides of the Atlantic is tough. Andrew Bellis, managing director in Partners Group’s Americas private debt division, compares the two markets.

CLOs offer attractive alternatives for investors looking to gain exposure to mid-market debt. David Heilbrunn, Churchill Asset Management’s head of product development and capital raising, and Shai Vichness, the company’s chief financial officer, give us their insights.