For further information, please click on the respective programme item below.
You can download the conference brochure here.
Speaker
Dr. Philipp Bunnenberg BioSpeaker
Florian Bucher BioModeration
Sascha Specketer BioSpeaker
Martin Siml BioAt the fund level:
At the GP level:
Speaker
Jürgen Breuer BioSpeaker
Dr. Kati Beckmann BioAnalysis of the structural factors that make the German non-sponsored direct lending market particularly attractive
Consideration of key credit characteristics of the SME sector
Requirements and skills that a specialized private credit manager must have in the following areas
Origination
due diligence
Deal structuring
Aim: Achieve above-average returns for investors
Speaker
Samuel Duncombe Bio
Dr. Nicolaus Loos BioSpeaker
Joanna Kosek BioDirect Lenders play an increasingly important role in financing SMEs. Especially in relation to M+A transactions Direct Lenders are often better positioned than banks to provide capital in the amount and flexibility needed for such transactions. As a result the direct lending market in Europe has grown to well over €300bn and is now rivaling the broadly syndicated loan market and high yield bond market in size. We will be discussing current market developments and financing requirements that are shaping this trend.
Speaker
Mikkel Sckerl BioModeration
Guillermo Pérez Molina BioPanellists
Malek Ghali Bio
Christian Schaefer Bio
David Schulte Bio
Tancrede Terlinden BioEspresso Presentation by Sabine Fischer
European Lower Mid-Market Direct Lending
• Insolvency figures increased noticeably in 2024 and 2025, particularly in the smaller company segment. This development is increasingly on investors’ minds, as we observe in our ongoing discussions. There is a wide range of statistics breaking this down by country, size cluster and sector. Rather than going into detail, this will serve as a starting point.
o Is this trend visible in direct lending portfolios? Based on our reporting platform, we do not observe a material increase in insolvencies or loss events in lower mid-market portfolios, neither in absolute terms nor relative to larger market segments. While default figures tend to be somewhat higher, their interpretability is limited due to differing definitions of “default.”
o This (hopefully) points to a strong manager selection process as well as effective risk mitigation measures in practice.
o Several of the sectors affected by elevated insolvency levels
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In the subsequent panel discussion, the conversation will focus more specifically on the following topics:
o risk mitigation mechanisms,
o distressed or underperforming assets within portfolios,
o situations in which even robust protection mechanisms may no longer be effective,
o opportunities arising from problem situations,
o regional and sector-specific differences,
o potential changes in the competitive landscape among credit funds,
o trends in documentation, and
o the outlook for M&A activity and deal quality in 2026 and beyond.
Moderation
Sabine Fischer BioPanellists
Christian Dybdahl-Ovesen Bio
Dr. Markus Geiger Bio
Eva Halbritter Bio
Benjamin Noisser BioSpeaker
Dr. Benjamin Mohr BioSpeaker
Stefan Futschik BioEspresso lecture: Priscilla Schnepper
Moderation
Priscilla Schnepper BioPanellists
Olav Carlsen Bio
Luis Felipe Castellanos Bio
Börge Grauel BioEspresso lecture: Abhishek Gupta
Gaining Clearer Insight into Infrastructure Debt Investments
Moderation
Abhishek Gupta BioPanellists
Rouzbeh Amini Bio
Angus Davidson Bio
Alberto Ponti Bio
Denis Prouteau BioSpeaker
Chrysanth Herr BioReliance on a small number of quantitative credit metric can give a dangerous and false sense of security. In this presentation we explore the pitfalls and propose at least one alternative method of analysis for real estate credit underwriting.
Speaker
Vincent Nobel BioModeration
Nedelina Lazarova BioSpeaker
Karsten Hampel BioThe opportunities to invest in real estate debt are now becoming real in Germany. While seems to be still a lot of room for Standstill, the pressure and impatience from regulatory and other stakeholders increases. We will discuss the commercial opportunities and what creditors try to achieve - within the framework of legal considerations.
Speaker
Dr. Ruprecht Hellauer Bio
Cornelia Thaler BioPrivate debt under pressure? The LP perspective
Moderation
Manuela M. Fröhlich BioPanellists
Agnes Froehlich Bio
Jens Schneider Bio
Stefan Schütte BioSpeaker
Dr. Philipp Bunnenberg BioYou can download the conference brochure here.