15
May
Panel: Cannibalising CLO collateral? Private credit’s impact on the market
In recent years institutional investors have shifted their attention towards private credit in their hunt for yield and away from the broadly syndicated market. But will the value of liquidity in larger, broadly syndicated markets return as economic conditions continue to deteriorate?How will investors decide where to allocate funds? Panellists will discuss:
- How is increased interest in private credit affecting broadly syndicated markets? Is this trend taking away from BSL issuance?
- How do you decide where to allocate funds when ratings are private? How will privately financed companies perform compared with those with public debt?
- Will banks return to participating in loan securitisations? Have they ridden the storm of ‘big bank stress’?
- How are private equity funds participating in the private credit and BSL markets?
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SpeakersRoxana Mirica Partner and Head of Capital Markets APAX PARTNERS
Blake Jones Partner CLIFFORD CHANCE
David Altenhofen Head of Investments ACCUNIA
Adeel Shafiqullah Executive Managing Director and Head of European CLO Management SCULPTOR CAPITAL
Jelena Cvejic Head of Leveraged Loans DEBTWIRE
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Roxana Mirica is a Partner and head of Capital Markets in Europe. She is responsible for leading acquisition financing and ongoing debt and equity capital markets transactions for Apax’s portfolio companies. Additionally, Roxana manages day-to-day relationships with banks and institutional debt and equity investors.
Roxana joined Apax Partners in 2017. Prior to joining Apax Partners, Roxana spent 9 years at Barclays, most recently as Director in Leveraged Finance.
Roxana holds a BA in Economics and Chemistry cum laude from Dartmouth College.
Blake Jones advises on public and private structured finance, securitisation, asset backed lending with a particular focus on CLOs and fund leverage facilities.
He advises originators, managers and arrangers on a range of complex transactions. His expertise also extends to ESG securitisation, an area in which he has helped influence the development of ESG criteria in CLOs over the last few years, in an increasingly complicated regulatory landscape.
David has 18+ years of experience in financial markets, more than nine of these with investing in High Yield corporate bonds and structured credit, especially CLOs.
Adeel Shafiqullah is an Executive Managing Director and Head of European CLO Management for Sculptor Capital. In this role, Mr. Shafiqullah oversees Sculptor Capital’s European performing credit investments, with a focus on leveraged loans and high yield bonds.
Prior to joining Sculptor Capital in 2015, Mr. Shafiqullah spent 13 years at Pinebridge Investments, most recently as Managing Director and Head of European Leveraged Finance
Prior to that, he was an Investment Banking Analyst at Donaldson, Lufkin & Jenrette/Credit Suisse First Boston and at Chanin Capital Partners.
Mr. Shafiqullah holds a Bachelor of Science in Business Administration from the University of Southern California, Marshall School of Business.
Jelena Cvejic joined Debtwire in October 2021 as an editor and leveraged finance reporter. She heads the editorial team in Europe focusing on primary and secondary leveraged loan markets. Prior to joining Debtwire, Jelena led a team of journalists at Loan Radar, developing and delivering news and data content on syndicated loan markets across Europe, the Middle East, Africa, and North America. She began her career in financial journalism 17 years ago and has covered leveraged finance, investment grade loans, emerging markets, as well as project and infrastructure finance.
Jelena holds a degree in economics from the University of Pennsylvania.