The evolution of private debt

18 Sep

The evolution of private debt

As the US private debt market has evolved so have managers’ fund administration demands. Maximilien Dambax, group head of private debt at Alter Domus, and Michael Trinkaus, the firm’s US country executive, look at the key trends. 

Since the early 1980s until recently, North America has been the stronghold of the private debt market, setting the pace of the industry globally. In the aftermath of the global financial crisis, however, the private debt market has been transformed, with a growing disintermediation of banks in the wake of a never-ending raft of regulatory measures stemming from the credit crisis. Beyond the US and Europe, Asia is considered the next frontier, even if the shift to non-bank lending has been slower.

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