Private Debt Prepares to Ride Out the Storm

A volatile macroeconomic environment presents both risks and opportunities for private debt – but according to Greg Myers, Global Sector Head of Debt Capital Markets at Alter Domus, the asset class remains on a growth trajectory.

Speaking with four other influential figures in the US private debt market as part of a roundtable discussion for PDI’s US Report, Greg discusses the arising opportunities in a market that saw fundraising reach a near-record high of $48.2bn in the first half of 2022.

“We’ve been doing fund administration for a number of the open-end private credit structures that include private wealth clients. A lot of the managers we work with are familiar with close-end structures; they might have $500 million of committed capital and they know they can call it in three years and put it to work. With an open-end structure, there’s a lot to figure out: how do they call initial capital amounts, how do they queue the investors, how do they rebalance?” explained Greg.

Read the full roundtable discussion, which also features Kirkland & Ellis’ Carrie VanFleet, Churchill Asset Management’s Jason Strife, Antares Capital’s Mike Hynes, and Monroe Capital’s Theodore Koenig here (subscription required) or by downloading the PDF below.