02
Apr
The evolving landscape of private credit
Private credit continues to be a popular asset class, and with an expected resurgence in M&A and leveraged buyouts in 2025, it is expected that direct lending deal flow will continue to increase in line with the substantial amounts of private equity dry powder in need of deployment and pressure to return capital to LPs. Continued consolidation in the market is also expected, with big debt managers being very acquisitive. Our panel of private credit managers will discuss:
- What are the factors that continue to drive private credit deal flow?
- How is the private credit market diversifying, and what sub-asset classes are the most attractive to GPs?
- Will we see further market consolidation amongst private credit funds, and what does this mean for the market’s competitive landscape?
- Are we still in the golden era for private credit? What should market participants expect in 2025?
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SpeakersDavid Fann Partner, Senior Managing Director, & Head of IR VSS Capital Partners
Erik Bissonnette Senior Managing Director and Co-Head of Tech Investing Blue Owl Capital
Christine Pope Managing Director Oaktree Capital Management
Taylor Boswell Head of Private Credit AGL Credit Management
Greg Leveto Portfolio Manager & Partner OHA
Lisa Fu Reporter DEBTWIRE
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David Fann is a Partner, Senior Managing Director, and Head of Investor Relations. He joined VSS in 2024. David has executive leadership roles in organizations that have invested over $50 billion in private equity, private credit, real assets and real estate for institutional clients and limited partners. Prior to joining VSS, David was Vice Chairman of Apogem Capital, a subsidiary of New York Life Investment Management.
Previously, he was a Partner and Vice Chairman of Aksia LLC. He was also a co-founder, President and CEO of TorreyCove Capital Partner LLC (merged with Aksia in 2020) and was President and CEO of PCG Asset Management. He was a Managing Director (Head of Alternatives) of US Trust and started his career at Citibank, where he was a Vice President of Citicorp Venture Capital Ltd.
David holds a Bachelor of Arts and Sciences degree in Industrial Engineering and Economics from Stanford University. He serves on the advisory boards of the Robert Toigo Foundation and the Association of Asian American Investment Managers.
Ms. Pope is a managing director within Oaktree’s Global Private Debt strategy where she focuses on public and direct lending investments across a variety of industries, including telecom, consumer, retail, travel, leisure and infrastructure. Prior to joining Oaktree in 2013, she spent a year at Lazard Frères & Co. as an associate in the Restructuring Advisory group. Prior thereto, Ms. Pope practiced law at Kirkland & Ellis, LLP, where she worked as an associate in the Restructuring and Corporate Mergers and Acquisitions groups, focused on advising clients on a variety of public and private acquisitions, financings, and in and out of court restructurings. Ms. Pope received her M.B.A from the Wharton School at the University of Pennsylvania and graduated as a Juris Doctor from the School of Law at Duke University. She received her B.A. in economics and political science from Duke University.
Prior to joining AGL, Boswell was a Partner at Carlyle, serving as Head of Direct Lending and Chief Investment Officer, Direct Lending. In this role, he led the investing and business operations of Carlyle Direct Lending from 2019 until 2022, including origination, underwriting, portfolio management and investor relations. In addition, he served as President, Chief Investment Officer and Board member of Carlyle’s various business development companies (BDCs); and was on the Investment Committee for the firm’s managed Direct Lending vehicles. He previously also served at Carlyle as a founding, senior member of the Opportunistic Credit team, with primary responsibility for building that business’s US investment capabilities while leading the deployment of capital across a wide variety of private credit investments.
Prior to joining Carlyle in 2017, Boswell served as Managing Director and Investment Committee Member in the Illiquid Credit Business at Apollo Global Management.
Before joining Apollo in 2013, he was a Director at Perella Weinberg Partners, where he spent seven years focused on corporate fundamental investing across both debt and equity mandates. Prior to Perella Weinberg Partners, Boswell was an Investment Associate at Providence Equity Partners. He began his career as an Investment Banking Analyst at Deutsche Bank in 2001.
Boswell has an AB in Political Economics from Princeton University.
Greg Leveto serves as an investment professional focusing on asset based finance. Before joining OHA, Mr. Leveto ran the Transportation, Infrastructure and Energy Financing group at Deutsche Bank, where he was a Managing Director. He previously worked at Goldman Sachs for eight years, most recently in the Hard Asset Trading group in the Fixed Income division. While at Goldman Sachs, Mr. Leveto also worked as an investment analyst in the Special Asset Group and as an investment banker on the Real Estate, Gaming and Lodging team. He spent the first two years of his career at Land Group Atlanta, a boutique real estate advisory and development firm. Mr. Leveto is on the board of NAMI NYC, an organization focused on mental health awareness and advocacy. He earned a B.S. from the Boston University Questrom School of Business.