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Invesco: Investing in the European upper middle market

Thu, 28 May 2026 10:01:44 +0200

European upper middle market private credit offers defined contribution pension investors yield, diversification, and stability by combining directly originated and syndicated loans across larger, more resilient corporate borrowers.

By Michael Craig, Head of European Senior Secured Loans, and Raman Rajagopal, MD & Senior Client Portfolio Manager - Private Credit, both at Invesco

Harry Geels: The end of banking (as we know it)

Tue, 19 May 2026 12:28:29 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

Professor Campbell Harvey recently announced the end of the bank as a business model, citing four key developments. It is an interesting view, but things are unlikely to happen that quickly. Regulatory inertia and political interests will keep banks afloat for a long time to come.

Evergreen funds stand the test in a turbulent private debt market

Thu, 14 May 2026 10:04:07 +0200

_{This report was originally written in Dutch. This is an English translation.}

The global private debt market has grown significantly. Dutch pension funds have also substantially increased their exposure. Does the asset class retain its appeal under the WTP? And which risks are still often underestimated? During a lunch webinar discussion organised by Financial Investigator and led by Harry Geels, three experts discuss what pension funds need to bear in mind when considering investing in private debt.

By Esther Waal

Private debt remains attractive even under the Wtp

Mon, 11 May 2026 09:33:15 +0200

^{This report was originally written in Dutch. This is an English translation}

The private debt market has grown significantly worldwide. Dutch pension funds have also substantially increased their exposure. Will the asset class retain its appeal under the Wtp? And which risks are still often underestimated? During a Financial Investigator lunch webinar discussion led by Harry Geels, three experts discuss what pension funds need to bear in mind when considering investing in private debt.

By Esther Waal

Mercer: Private credit in perspective - noise, headwinds and opportunities

Mon, 04 May 2026 10:04:30 +0200

^{This article was originally written in Dutch. This is an English translation.}

Markets are currently becoming increasingly concerned about private credit. Negative headlines, repayments and concerns about AI-related headwinds are putting pressure on exposure to software companies in both public and private markets.

By David Scopelliti, Global Head of Private Equity & Private Credit, Mercer

Troviq Private Markets: Private debt headlines misread market reality

Fri, 01 May 2026 06:01:16 +0200

Recent headlines surrounding private debt — particularly the gating of redemptions in certain high-profile evergreen or so-called ‘semi-liquid’ funds — have created the impression of a sector facing systemic stress. But do signs like fund-level liquidity pressure, falling dividends on BDCs, and governance disputes really point towards weakening credit fundamentals?

By Jason Proctor

Pemberton AM: Private credit’s next chapter - measurable impact

Thu, 30 Apr 2026 10:01:46 +0200

Private credit has become a vital source of capital for the real economy. As impact investing expands and frameworks mature, it is finding its way into every corner of financial markets, now reaching European private credit.

By our editorial team

Ronald Verhagen (AF Advisors): A meltdown in private credit – is this time different?

Tue, 28 Apr 2026 11:42:32 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Ronald Verhagen, Director of Investment Consultancy at AF Advisors

Tensions in the private credit market are mounting. With defaults on the rise and liquidity under pressure, comparisons with 2008 are inevitable. But that parallel is too simplistic. Whilst the risks are real, the current situation points more to a necessary correction in a rapidly expanding, illiquid market than to a systemic crisis

Gerd-Jan van Wiggen: From private credit to public crisis

Tue, 21 Apr 2026 12:38:56 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Gerd-Jan van Wiggen, Partner at Probability & Partners

After years of strong returns and high expectations, we have seen turmoil emerge in the private credit markets in recent months. Since the bankruptcies of First Brands and Tricolor last year, there has been a significant increase in focus on the quality of private credit exposures. There is concern that standards for credit approval and monitoring are too low and that, as a result, private credit portfolios may contain many loans on which repayments are either non-existent or limited.

Mercer: Opportunites in private credit

Thu, 16 Apr 2026 13:26:39 +0200

Markets are currently experiencing heightened concern about private credit. This has been fueled by headlines, redemptions, and worries about AI-related headwinds impacting public and private markets exposure to software companies.

Han Dieperink: The law that investors keep forgetting

Tue, 03 Mar 2026 06:03:55 +0100

_{This column was originally written in Dutch. This is an English translation.}

By Han Dieperink, written in a personal capacity

There is one rule in financial markets that never changes, even though investors repeatedly forget it: the credit cycle. Not because they don't know about it, but because the temptation to participate is simply too great.

MFS: Private credit is nuttig, maar alloceer beperkt

Thu, 26 Feb 2026 16:05:56 +0100

De verhouding tussen verhandelbare obligaties en private credit vormt een terugkerend thema in discussies over portefeuillesamenstelling. Beide categorieën vervullen een rol binnen de strategische vermogensverdeling, waarbij vooral de omvang van de allocatie onderwerp van debat is. Wat Benoit Anne, obligatiestrateeg bij MFS, betreft hoeft de allocatie "niet zo heel groot" te zijn.

Private credit no longer “the land of boredom” (Roundtable Private Credit - part 3)

Thu, 11 Dec 2025 11:07:59 +0100

^{This report was originally written in Dutch. This is an English translation.}

In part 3 of this roundtable discussion, the experts delve into the key challenges of private credit: how do investors gain access to the broad spectrum, what role do scale and specialisation play, and to what extent is the asset class suited to ESG and impact? They also look ahead to the trends that will shape the market in the coming years.

By Hans Amesz

Why investors choose private credit (Roundtable Private Credit - part 2)

Thu, 11 Dec 2025 11:07:59 +0100

^{This report was originally written in Dutch. This is an English translation.}

In part 2 of this roundtable discussion, experts discuss why institutional investors find private credit attractive and which risks they consider most significant. They also discuss the quality of ratings, market transparency, the actual risk of default and the role of lenders in the growth trajectory of companies.

By Hans Amesz

Is the evergreen structure interesting for private credit? (Roundtable Private Credit - part 1)

Thu, 11 Dec 2025 11:09:56 +0100

^{This report was originally written in Dutch. This is an English translation.}

Private credit is rapidly becoming a cornerstone of modern portfolios. The market is growing globally, shifting from corporate lending to broader niche segments and attracting more and more institutional investors. In part 1 of this roundtable discussion, experts examine the size of the market, the main sub-segments and the emergence of evergreen fund structures.

By Hans Amesz

Panel discussion 'Private Debt Portfolios'

Thu, 20 Nov 2025 06:01:26 +0100

_{This report was originally written in Dutch. This is an English translation.}

Diversification, scale, impact and the new pension system are determining factors for allocation to private debt. This became clear during the seminar on private markets organised by Financial Investigator, where four experts discussed the opportunities and risks of this asset class.

By Hans Amesz

Aegon AM: Institutional investors embrace private credit for future growth

Fri, 14 Nov 2025 13:17:01 +0100

By Jord Hermanns, CFA Portfolio Manager, Jacob Vijverberg, CFA Head of Asset Allocation, Frank Meijer, Head of Alternative Fixed Income & ABS

The alternative fixed income market is changing, and private credit is at the center of this shift.

HSBC AM: A diversified offence in private credit as the best defence

Thu, 30 Oct 2025 10:02:58 +0100

Private credit is seen as a promising asset class. Its ‘multiple engines’ in particular present compelling opportunities, says Scott McClurg from HSBC Asset Management. Financial Investigator spoke with him about the opportunities that warrant detailed consideration, and about his idea of a ‘diversified offence’.

By our editorial team

MFS: Stress op private debt markt niet te negeren

Fri, 17 Oct 2025 12:29:22 +0200

De stress op de private debt markt neemt zienderogen toe. Beleggers vrezen dat de hoge leverage sommige bedrijven de das om zal doen en dat ze daar dus de dupe van worden vanwege de beperkte exit-mogelijkheden. Het sentiment is onmiskenbaar gedraaid.

Harry Geels: What critics of private equity and private debt tend to overlook

Tue, 14 Oct 2025 15:29:55 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Harry Geels

Private investors are subject to considerable criticism from society. They are perceived as capitalist (vulture) investors who charge excessive fees and operate outside of supervision as much as possible. However, critics overlook seven major advantages of private markets.

Pension Fund KPN invests in M&G managed impact-focused private debt strategy

Wed, 01 Oct 2025 12:06:19 +0200

M&G Investments (M&G) has launched a €300 million impact-focused private debt strategy on behalf of Dutch pension fund, Pensioenfonds KPN. Aegon Asset Management – a leading investment and fiduciary manager, has selected M&G as one of the managers for the private debt mandate of Pensioenfonds KPN.

Wealth Club: Private credit market set to grow by up to $300 billion

Tue, 16 Sep 2025 13:45:34 +0200

The private credit market is predicted to grow by up to $300 billion by 2030, new research from Wealth Club shows.

Carne Group: Private debt leaders prepare for market reshaping

Thu, 04 Sep 2025 12:20:56 +0200

New research from Carne Group (Carne), Europe's largest third-party management company (ManCo) and leading provider of fund regulation and governance solutions for the asset management industry, reveals consolidation is firmly on the horizon for the private debt sector. Nearly all (96%) private debt managers surveyed globally by Carne anticipate industry-wide consolidation over the next five years, with 72% expecting it to be significant, set against a backdrop of increasing regulatory demands.

MFS: Kalmte op private debt-markten is schone schijn

Thu, 14 Aug 2025 14:22:40 +0200

De markt voor private debt raakt verzadigd, waarschuwt vermogensbeheerder MFS.

Mashid Mojabi: Europe must break free from its regulatory straitjacket

Tue, 29 Jul 2025 10:42:22 +0200

_{This column was originally written in Dutch. This is an English translation.}

By Mashid Mojabi, Policy Lead, Dutch Association of Private Equity and Venture Capital Funds (NVP)

The private equity and venture capital sector continues to grow steadily. In 2024, Dutch venture capital funds raised no less than €3.2 billion, of which €1 billion came from (foreign) pension funds. This is slightly less than in 2023 (€3.3 billion), but still well above the €1.5–2.5 billion raised in previous years. Dutch buyout funds raised €5.1 billion, mainly from institutional investors. This is also historically high.