David is the portfolio manager and Head of NB Capital Solutions at Neuberger Berman, with over 27 years of experience. David dedicates the majority of his time to portfolio construction, investment due diligence and team management, as well as managing relationships with investors and private equity sponsors.

“Rates are approaching all-time highs, which make financings increasingly more expensive for private equity (PE) firms. As a result, PE firms are looking for sources of alternative capital. Valuation multiples remain elevated in private markets and even more so in public markets, coupled with volatility. This creates a continued expensive environment for buyout firms. Buyout fund distributions are approaching historical lows and sponsors are looking for more creative ways to return capital to investors, in order to reach fundraising targets. The current market environment provides an excellent opportunity set for capital solutions – bespoke financing solutions for strategic M&A and minority recapitalisations.”

David will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place this Thursday, 2 May 2024 at the Grand Hyatt Melbourne, Victoria.

Register your interest in attending here or for more information email zlatan@globalii.com.au.

As the Head of Origination – Private Credit at PineBridge Investments, Doug oversees the firm’s middle market private credit business and lead their origination efforts. With over 30 years of experience in financial advisory and services, including middle market direct lending, investment banking, and public accounting, Doug specialises in the origination and execution of both private equity-supported and non-sponsored financing transactions.

“We believe a period of marked divergence lies ahead across private credit direct lending in 2024, fuelled by a sustained high interest rate environment and the impact of varying portfolio approaches. Specifically, while the overall private credit direct lending (lower middle market) asset class has continued to show durable, stable returns across various macro environments, the specific asset mix, sector focus, and approach to credit risk are all factors that drive performance outcomes – and create the many “varieties” of private credit.

We continue to believe the opportunity set for investors in the private credit direct lending segment remains robust and deep enough to enable a selective approach.”

Doug will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place this Thursday, 2 May 2024 at the Grand Hyatt Melbourne, Victoria.

Register your interest in attending here or for more information email zlatan@globalii.com.au.

Mike is responsible for overseeing PGIM Private Capital’s Sydney office. He and his team are responsible for sourcing, underwriting, and managing private credit investments across Australia and New Zealand. Their private credit offering spans the corporate, infrastructure and energy sectors.

“There has been a proliferation of new private credit funds over the past couple of years, as ‘private credit’ has become more mainstream and an increased willingness and awareness for borrowers to take on non-bank funding, particularly in historically bank dominated markets such as Australia and New Zealand. The gradual disintermediation of the banking sector, changes in bank appetite, and challenges in the equity markets to IPO has made private credit more attractive for borrowers despite the higher pricing. The combination of interest rates remaining higher for longer than forecasted, coupled with a gradual slowdown in the economy, is likely to put pressure on mid-market businesses as operating costs continue to increase. As a result, firms need to ensure that they have adequate flexibility to manage their businesses through this uncertain environment.”

Mike will be presenting at Global Investment Institute’s upcoming Private Credit Investment Forum, taking place this Thursday, 2 May 2024 at the Grand Hyatt Melbourne, Victoria.

Register your interest in attending here or for more information email zlatan@globalii.com.au.