On this episode of the Debtwired! podcast, Michael Ewald, Bain Capital’s global head of private credit, joins Melina Chalkia, Debtwire’s primary market reporter for North America, to unpack how one of the biggest players in the space is navigating a volatile credit environment.

Ewald, who joined Bain Capital in 1998, is a Partner, Global Head of the Private Credit Group, Portfolio Manager for the Middle Market Credit and Senior Direct Lending strategies, and a Credit Committee member. He also serves as CEO of Bain Capital Specialty Finance, a registered business development company.

In this conversation, Ewald discusses how Bain is deploying capital amid the volatility driven by President Trump’s tariff threats. He explains where he finds opportunities in today’s market, what sectors he avoids and his continued focus on the core middle market. The conversation also touches on key shifts in covenant protections and pricing. As syndicated deal flow slows, private credit continues to draw interest.

In this episode of Debtwired, Claire Madden, a founding partner at Connection Capital, discusses the evolution of private capital since the firm’s inception in 2010. She explores changing investor appetite, the sectors and asset classes currently attracting interest, and how macroeconomic and political factors are influencing investment strategies. Claire also highlights Connection Capital’s approach to addressing risks, liquidity concerns, and the future of private capital investments.

In this episode of Debtwired, Albane Poulin, Head of Private Credit at Gravis, discusses the evolving role of private credit in infrastructure and real estate finance across the UK and globally.

On this episode of the Debtwired! podcast, Thomas Kennedy, Chief Investment Strategist for JP Morgan Private Bank, joins Melina Chalkia, Debtwire’s primary market reporter for North America, to discuss how debt markets are responding to the shifting monetary policy and geopolitical tensions.

Kennedy leads the development of the bank's global economic and investment views, while serving as the chair of the Global Investment Strategy Group. Previously, Kennedy worked at the Federal Reserve Bank of New York for eight years, holding various research and policy positions.

In this conversation, Kennedy discusses the interest rate outlook for 2025 and how high yield markets will be impacted by President Trump’s tariffs. He highlights where he finds the best investment opportunities in debt markets and direct lending.

#JPMorgan #Outlook #Debt, #Investment Opportunities #Direct Lending

Dennis Heuer, partner at White & Case, joins Debtwire’s Johannes Koch to explore the impact of the Secondary Credit Markets Act (Kreditzweitmarktgesetz) on the market for non-performing loans.

The act, or NPL-directive for short, was introduced just over a year ago in Germany to help foster a deeper and more liquid secondary market for non-performing loans. Now that the dust has settled on its introduction, Heuer reviews the basic tenants of the law, how it has impacted market participants and ultimately, gives us a view on whether it has delivered, or has yet to deliver, on its promise.

Heuer is a partner at White & Case and an expert in structured finance and securitisation within the law firm’s EMEA Structured Finance Group. He represents clients, among them banks, insurance companies, debt collectors and multinational corporates on a wide range of cross-border transactional and advisory matters.

In this episode of Debtwired!, host Amelia Weitzman speaks with Danyal Khan, founder of Altocrest Advisory, about the challenges businesses face in debt financing. With over a decade in institutional banking and advisory roles, Khan discusses his motivation for launching a boutique advisory firm to better serve UK businesses, especially with EBITDA between £1-5 million, a segment often overlooked by larger financial institutions.

Khan explains how debt advisory services can help businesses navigate a complex and expanding lending landscape, ensuring they secure financing suited to their needs. He highlights common mistakes businesses make when raising debt, misconceptions about debt, and the benefits of boutique advisory firms.

#privatecredit #M&A #Debtwire #dealfinancing #refinancing

On the latest episode of the Debtwired! podcast, Engin Okaya, executive managing director at PGIM Private Capital, joins Melina Chalkia, Debtwire’s primary market reporter for North America, to discuss trends and strategies in private credit.

Okaya oversees the private placement and mezzanine activity for PGIM Private Capital's Atlanta, Chicago, Minneapolis and New York Global Corporate Finance offices. She is also a partner of PGIM Capital Partners, the middle-market mezzanine debt and structured equity fund management business, sponsored by PGIM Private Capital.

In this conversation, Engin explains PGIM’s approach to evaluating lending opportunities, emphasizing a structured framework that balances risk and return. She highlights the appeal of middle-market companies and discusses the growing collaboration between private credit firms and banks to diversify portfolios and enhance deal origination. The conversation also touches on sector-specific investment opportunities in private credit for 2025.

Lastly, Engin elaborates on the growing role of artificial intelligence in private credit investment decisions and highlights her view of AI as a tool to enhance, not replace, human decision-making.

#PGIM, #Private Credit, #Market Opportunities, #Artificial Intelligence

In this episode, Debtwire's Amelia Weitzman is joined by Kirstie Hutchinson and Adam Caines, both private capital partners at Macfarlanes, to discuss documentation in Europe's mid-market. Listen in to hear how much the gradual loosening of documentation is putting direct lenders on the backfoot of borrowers, whether there are any new clauses that raise alarm bells, and much more.

Jennifer Daly, head of private credit and special situations at Paul Hastings talks to Madalina Iacob, co-managing editor of Debtwire North America about trends in the private credit market and her outlook on deal environment under the Trump administration. She delves into deal structures and the latest covenant protections that private lenders are requesting.

On the latest episode of the Debtwired! podcast, Laleh Bashirrad, managing director at BNP Paribas' leveraged syndicate team, speaks to Melina Chalkia, primary markets reporter of Debtwire North America, about the latest trends in the broadly syndicated market and the 2025 outlook.

Bashirrad has over two decades of credit experience advising sponsors as well as large and midcap clients on capital structure and pricing considerations for buyouts, acquisitions, recapitalizations and refinancings.

In this podcast, Bashirrad gives an overview of the current supply and demand dynamics in the BSL market and outlines her optimistic view on demand for high yield products. While she expects the trend of refinancings to continue to dominate in the early months of 2025, she notes the building M&A pipeline could bring forth robust activity for the rest of the year. Bashirrad also highlights partnership opportunities between BSL and private credit, which are often seen as competing market players.