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Global credit funds & CLO's
June 2023 | Issue 255
Published in London & New York.
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June 2023 | Issue 255
Event Direct lending awards
Arcmont and Barings land direct lending doubles
Arcmont and Barings land direct lending doubles
Tom Davidson
Managing editor
The inaugural Debtwire European Direct Lending Awards dinner featured managers large and small, pan-European and regional — but only Arcmont and Barings took home two prizes
Readers with long memories may recall that Creditflux used to award a handful of prizes for direct lending funds at the Manager Awards. But this year those gongs — along with a larger set of categories judged by a panel of industry veterans — were spun out into their own glittering gala: the Debtwire European Direct Lending Awards
According to Debtwire data, direct lending reached fever pitch in 2022, with nearly €100 billion worth of financing issued. The first quarter of 2023 slowed materially in both absolute value and in comparison with syndicated leveraged lending, but around 150 deals still made it over the line in the first three months of the year — and 150 managers entered the Debtwire awards.
What did the results tell us? That the European direct lending market is one where local expertise and investment strategy really matter. Across 14 categories, 12 different managers took home prizes, with only Arcmont Asset Management and Barings Direct Lending scooping a pair of awards.
Arcmont flexed its regional strength to win the DACH & Poland direct lending manager of the year award, while the firm’s performance in the large-cap space enabled it to take home the European large-cap direct lending fund of the year trophy (for Direct Lending Fund III).
Barings, by contrast, was the people’s choice in the mid-cap space (one of our three categories voted on directly by market participants). It also won Benelux direct lending manager of the year.
KKR team (left to right): Ian Anderson, managing director; Paul Atefi, managing director; Sean Healy, principal
People’s Choice: European large-cap direct lending manager of the year
KKR Credit
Finalists
Blackstone Credit
KKR Credit
MV Credit
Methodology
People’s Choice
People’s Choice: European mid-cap direct lending manager of the year
Barings Direct Lending
Finalists
Barings Direct Lending
Eurazeo
Tikehau IM
Methodology
People’s Choice
ESG direct lending manager of the year
Bridgepoint Credit
Finalists
Ares
Barings Direct Lending
Bridgepoint Credit
CVC
Pemberton
Ture Invest
Methodology
Judging panel
People’s Choice: European small-cap direct lending manager of the year
Fiduciam
Finalists
Anthilia Capital
Apera
Cordet Direct Lending
Fiduciam
Methodology
People’s Choice
Nordic direct lending manager of the year
Ture Invest
Finalists
Ares
CapitalFour
PCapital
Ture Invest
Methodology
Judging panel
France direct lending manager of the year
Tikehau Capital
Finalists
Barings Direct Lending
Eurazeo
CIC Private Debt
Tikehau Capital
Methodology
Judging panel
Italy direct lending manager of the year
Blackstone Credit
Finalists
Anthilia Capital
Blackstone Credit
Equita Capital
KKR Credit
Riello
Methodology
Judging panel
European large-cap direct lending fund of the year
Direct Lending Fund III
Arcmont Asset Management
Finalists
Direct Lending Fund III — Arcmont Asset Management
European Senior Debt Strategy — Blackstone Credit
MV Subordinated V — MV Credit
Park Square Capital Partners III — Park Square Capital
Methodology
Fund performance data
DACH & Poland direct lending manager of the year
Arcmont Asset Management
Finalists
Arcmont Asset Management
Ardian
Barings Direct Lending
CVI
HF Private Debt
Methodology
Judging panel
Iberia direct lending manager of the year
Oquendo Capital
Finalists
Ares
Goldman Sachs Private Capital
Oquendo Capital
Pemberton
Zenon Asset Management
Methodology
Judging panel
European mid-market direct lending fund of the year
Pemberton Mid-Market Debt Fund II
Pemberton Asset Management
Finalists
Ares Capital Europe V, L.P. (ACE V) — Ares Management
Hayfin Direct Lending Fund II — Hayfin Capital Management
H.I.G. WhiteHorse Europe — H.I.G. Capital
Pemberton Mid-Market Debt Fund II — Pemberton AM
Methodology
Fund performance data
UK & Ireland direct lending manager of the year
Ares
Finalists
Ares
Apera
Barings Direct Lending
Blackstone Credit
CVC
Fiduciam
Methodology
Judging panel
Benelux direct lending manager of the year
Barings Direct Lending
Finalists
Ares
Barings Direct Lending
Fiduciam
LGT Private Debt
Permira
Tikehau Capital
Methodology
Fund performance data
European small-cap direct lending fund of the year
CORDET Direct Lending II
CORDET
Finalists
Apera Private Debt Fund II SCSp — Apera
CORDET Direct Lending II — Cordet
Muzinich Pan European Private Debt II Fund — Muzinich & Co
Oquendo Senior Debt Fund II — Oquendo Capital
Methodology
Fund performance data
