“Direct Lending in Europe ‘crossed the Rubicon’ in 2025, proving its resilience amid a volatile geopolitical backdrop.
Its role in sponsor-backed M&A now spans transactions of all sizes; institutional allocations have become perennial across an increasingly global investor base; and growth is consolidating around a smaller group of large, established platforms.
Together, these are clear signs the asset class has transitioned into a maturing mainstay of the European financing market as we enter 2026.”
Partner and Deputy CIO Michael Massarano shared this insight during his panel “The Big Picture on Private Debt”, alongside Louis Thuillez at Aether Tailored Financial Services and moderated by Lisa Lee, Managing Editor at Creditflux.
Head of French Speaking Europe Beata Kaminska was also in attendance.
