>> 5
THE LIQUIDITY QUESTION
DWS considers how to serve retail
MAKING THE GRADE
>> 12
IG private credit is attracting attention
Paul Hastings’ Cameron Saylor gives his take on private credit CLOs >> 16
ISSUE 97 | SEPTEMBER 2024
Pick-up in dealmaking presents new opportunities for private credit managers PRIVATE equity firms are finally back in the market and hunting for deals, which should help private credit managers in the coming months. Private equity activity saw its strongest quarter in two years in the second quarter of 2024, according to EY, with groups announcing 122 deals worth $196bn (£151.2bn) in total, up from $100bn in the first quarter. This was the strongest period for capital deployment since the third quarter of 2022, EY said in its report. As dealmaking slowed down so did the
deployment of private credit funds, which heavily rely on buyout sponsors for new deals. Looking forward, Callum Bell, head
of direct lending at Investec, expects to see more opportunities in the second half of the year, but warns that the market is still way
off the levels of activity seen in previous years. “A pickup in M&A is a positive tonic for private credit managers >> 4 and helps support