Arcmont is seeing extra spread, better terms and less leverage on mid-market loans, according to Mattis Poetter.
Arcmont CIO Mattis Poetter says the retreat of US lenders has reduced deal competition in European mid-market lending.
Arcmont is seeing the shift in extra spread, better terms and less leverage on the loans it makes.
Poetter's account is one credit manager's observation about its own book, not a market-wide statistic for European direct lending.
Reported by The Wrap desk from Private Credit Daily coverage. Published . Corrections
Investec's Greg Betz says activity has centred on "old economy sectors," while Canyon and Federated Hermes cite energy and defence spending, per Alternative Credit Investor.
The Churchill-Arcmont platform says it invested $27bn across more than 400 middle-market deals in the past year and remains 93 per cent institutional.
Eleven of the deals raised new money and 65 names sit in the pipeline, according to 9fin.
Apollo and other new minority shareholders expect to commit an aggregate $5 billion to the manager's strategies at an initial close.
Initial reports did not include wrapper, fee, minimum or redemption terms for either channel.
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