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Demand for private debt has grown tremendously over the last couple of years due to low interest rate and the search for yield. As banks have retracted from this space, dry powder has increased, spreads have compressed and covenant quality has diminished. Our panelist will cover these aspects:

• The opportunities offered by direct lending, mezzanine private debt and corporate structured credit
• The record level of dry powder in private debt and the impact of the private equity investment environment
• Where distressed debt players are placing capital while they wait for "value opportunities" in the next stage of the credit cycle
• Niche areas of the private debt arena (factoring, royalties, SME lending)
• Whether gaps still exist in the market for private/alternative credit to fill where banks have pulled back

MODERATOR
	BRIAN CYR, CFA Managing director Bfinance Learn More
PANELISTS
	ADAM BRESLIN Partner Penfund Management Learn More
	ROBERT HÉTU Head of US Private Debt Caisse de dépôt et placement du Québec Learn More
	RICHARD JACOBSON Managing Director Golub Capital Learn More