Credit Funds: Riding the Sea of Change

We are delighted to bring this edition of Spotlight Magazine to you after the disruption of the past two years and the COVID-19 pandemic. There has been a sea of regulatory change that has evolved during this time, masked by nearly unprecedented times of global uncertainty.

In the lending market, despite the current humanitarian situation in Ukraine and the ongoing aftermath of the disruption from COVID, the credit fund lending appetite has remained steadfast and resilient. We examine various changes in the growing lending market showing that the market is here to stay.

The fast growth in new asset classes such as private debt secondaries has exploded onto the private debt market and we examine whether it is now time for private debt secondaries to take a starring role in continuing the extraordinary growth the private debt market has experienced in recent years.

The SEC has finally turned its attention to the fast growing private debt market and has issued some radical proposals that will significantly impact private credit asset managers. We delve into what every debt asset manager needs to know to stay abreast of these SEC changes.

There has been a spate of new fund regimes that have been dusted off over the COVD period such as the issuance of an impressive dual funds regime in Gibraltar and the long awaited publication of the Irish investment funds partnership regime. This has also coincided with the refresh of the Luxembourg Securitisation Law providing even more flexibility when it comes to structuring Luxembourg funds.

In addition, ESG has risen to the top of every investor questionnaire and we examine the SEC’s proposed rule changes and how that will affect the asset management industry.

ELTIFs have also been given another revamp, this time along with the UK’s Long Term Asset Fund regime providing managers with yet further structures to consider in their tool box.

We end this bumper edition with a round-up of AIFMD 2 and what the new proposals will likely look like, as well as discussing the implication of ATAD 3 when it finally comes into force.

We hope you enjoy the magazine, and please feel free to reach out to any of our contributing authors on the topics covered.

Click here to read this edition of Spotlight: Credit Funds