Market Impact of New Entrants and the Private Credit Opportunity

The panel assesses the broader market impact of new CLO managers entering Europe. Billy Cole sees it as a sign of market maturation with performance becoming the key differentiator. Adam Goldberg notes that tiering will compress faster in Europe due to portfolio overlap. Paul Roos highlights the private credit CLO space as a first-mover opportunity for new European entrants, pointing to the continent's rapidly growing private credit market.