Season 2, Episode 01

Kerstin and her guests explore how the European direct lending market is catching up to the US, and what it will take for CLOs to become a mainstream source of capital in Europe. They unpack the challenges of building diverse, single-currency portfolios and the hurdles posed by multi-currency risks, while sharing insights on investor demand—from insurance companies seeking bespoke structures to North American and Middle Eastern investors chasing higher yields.

Andrea and Mike discuss the latest trends in private credit pricing, the rebound in M&A activity, and why Italy is emerging as a key market for deal flow. They break down the impact of macroeconomic shifts, US tariffs, and interest rate movements, and debate the convergence of public and private credit as European capital markets reopen. With candid analysis on sector and geographic trends, and predictions for market evolution, this episode is essential listening for anyone following private credit, CLO innovation, or the future of European direct lending.

If you’re tracking shifts in investor appetite, the rise of scale managers, or the next wave of private credit deals in Europe, tune in for expert perspectives and actionable takeaways from the heart of the market.