Rik Bekkers, Fiduciary Manager Fixed Income, APG Asset Management

Private infrastructure lending has been impacted by a number of recent changes, including the movements in interest rates, as well as a number of “megatrends”, in particular technological evolutions, the energy transition, requirements for climate resilience, a new global order and demographic changes.

How have investors and asset managers adjusted their strategies to best adapt to these changes and seize opportunities arising from them?

Andrew Marshak - Head of Europe Credit Investment Group, UBS Asset Management

Over the past decade, private credit has experienced spectacular growth, propelling the asset class into the headlines with both acclaim and scrutiny. While investor returns have been strong, questions are being asked about the sustainability of this performance and if there are underlying vulnerabilities beginning to emerge.

While the US is the world’s largest private credit market, macroeconomic volatility and changing trade policies are leading some investors to rethink their US allocations in favour of Europe. The easing of the regulatory regime in the US helps its attractiveness for private credit investors, especially when Europe’s heterogeneous market can complicate matters. In this environment, will the European private credit investment market be the winner?
Rik Bekkers – Fiduciary Manager, Fixed Income, APG
Andrew Marshak – Head of Europe Credit Investment Group, UBS Asset Management