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Private Debt Symposium 2027

18. - 19. Januar 2027, Frankfurt am Main

101 days to go
1/18 - 1/19/2027
Duration: 2 Days
Frankfurt am Main, Germany
Scandic Frankfurt Hafenpark
1:55 pm - 2:05 pmBallroom 2+3

Opening

Speaker:

Dr. Philipp Bunnenberg, BAI e.V.

Abteilungsleiter Alternative Markets

Dr. Philipp Bunnenberg is Head of Alternative Markets at Bundesverband Alternative Investments e.V. (BAI) and is responsible for the association's activities in the areas of private & liquid alternative markets and public relations. After studying economics and business administration at the Universities of Potsdam, Münster, and Vigo, he initially worked as a research assistant at the Chair of Finance and Banking at the University of Potsdam. During this time, he completed his dissertation on closet indexing and risks in the ETF market. Dr. Bunnenberg is the host of multiple private markets conferences in Germany, a speaker on alternative investment-related topics at conferences throughout Europe, and the author of numerous publications.

2:05 pm - 2:45 pmBallroom 2+3

Keynote: Private Credit - Europe's Next Systemic Fault Line?

Substitution between banks and non-banks, concentration among direct lenders, behavior across the credit cycle, and the regulatory implications from the ESRB/ECB’s perspective—with the central question of what could actually destabilize the market (if anything), what could not, and why we need private credit for growth in Europe.

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Speaker:

Prof. Dr. Sascha Steffen, Frankfurt School of Finance & Management

DWS Senior Chair in Finance and Professor

Sascha Steffen is the DWS Senior Chair in Finance and Professor of Finance at Frankfurt School of Finance & Management, and Director of the Centre for European Transformation (CfET), a research platform on financing Europe’s economic transformation, including the role of private credit and nonbank finance.

His research examines the structure and dynamics of private credit and nonbank lending — how these markets fund themselves, redistribute risk, and interact with banks under stress — and what this means for financial stability and regulation. Recent work covers the funding structure of direct lenders and BDCs, payment-in-kind (PIK) lending, and the cyclicality of private credit. He has published in the Journal of Finance, Journal of Financial Economics, and Review of Financial Studies.

Sascha serves on the Advisory Scientific Committee of the European Systemic Risk Board (ESRB) and is a Research Fellow of CEPR and SAFE. Before his academic career, he worked in risk management at Deutsche Bank in Frankfurt and New York.

2:45 pm - 3:30 pmBallroom 2+3

Investor panel

3:30 pm - 4:00 pm

Coffee break

4:00 pm - 4:30 pmBallroom 2+3

The Core Still Wins: Why the European Mid-Market Remains the Sweet Spot in Direct Lending (ENG)

Speaker:

N.N., Pemberton Asset Management

4:00 pm - 4:30 pmGreen Room

Barings

Speaker:

N.N.


4:30 pm - 5:20 pmBallroom 2+3

Panel: Banks and Private Credit Funds

Panellists:

Luis Felipe Castellanos, Alantra Asset Management

Co-Founder

Luis Felipe Castellanos has over 30 years of international experience in private credit and leveraged finance. He began his career at BNP Paribas, where he spent 13 years in the Structured Credit team across the firm's Paris and New York offices.

In 2007, he joined European Capital, a €3 billion private credit manager, as a Partner responsible for Southern Europe. He subsequently became a Partner at Mercapital, then the largest private equity firm in Iberia, where he led the debt investment activities. Prior to joining Alantra, he headed the Debt Advisory practice at PwC as Lead Partner.

In 2014, Luis joined Alantra to establish and build its private credit platform, of which he is the founding partner. Under his leadership, Alantra has grown into a leading private credit manager with more than €1 billion in AUMs across a diversified range of strategies, including direct lending, commercial real estate debt, and flex capital.

Dr. Markus Geiger, ODDO BHF Asset Management

Senior Managing Director und Head of Private Debt

Dr. Markus Geiger has been Senior Managing Director and Head of Private Debt at ODDO BHF Asset Management since late 2018. He has more than 25 years of experience in the fields of private debt, private equity, and consulting. Prior to joining ODDO BHF, he spent four years leading the business in the D/A/CH region at Kartesia, a pan-European credit investor. Before that, he spent eight years at Borromin Capital (formerly Steadfast Capital), where he was responsible for sourcing, executing, and managing various private equity investments, serving as a partner during his final years there. He began his career in 1997 as a management consultant at Strategy & (formerly Booz Allen Hamilton), focusing on corporate finance advisory services for international corporations and private equity firms. Markus holds a Ph.D. from the University of Cologne and a master’s degree from ESCP Europe.

Patrick Marshall, Federated Hermes Limited

Head of Private Credit

Patrick joined Federated Hermes in June 2015 to launch and manage the Federated Hermes Direct Lending franchise, which invests in senior loans to UK and European mid-market businesses. He was the lead portfolio manager on the first Direct lending funds launched by Federated Hermes and is now Chair of the Private Debt Investment Committee and a member of the Private Markets senior management team. He became Head of Private Credit in January 2022 with oversight of all fixed income strategies within private markets, including Direct Lending and Asset-Based Lending. He was previously Head of Direct Lending in London at Tikehau Capital, and Partner at WCAS Fraser Sullivan Investment Management, where he established the firm’s European loan business. Prior to that, Patrick managed loan portfolios in excess of USD4bn and USD10bn as Managing Director at the Lehman Brothers Estate and Head of European and Asian loan portfolio management and restructuring at Lehman Brothers respectively. He has a Bachelor of Commerce in Business Administration and French from the University of Edinburgh and holds the CFA Certificate in ESG Investing.

4:30 pm - 5:20 pmGreen Room

Panel: Private Credit Upper Mid Market: Core Investment in the Portfolio?

Panellists:

Peter Lockhead, ICG

Co-Head of Senior Debt Partners

Peter joined ICG in 2017 and is the Co-Head of Senior Debt Partners at ICG. 

Prior to joining ICG, he was a portfolio manager for Avenue Capital's direct lending business in Europe, having joined Avenue Capital in September 2012 to establish that business. Prior to that, Peter was a Managing Director and Head of Sponsor Leveraged Finance at Bank of America Merrill Lynch, and before that a Managing Director in the Financial Sponsor Coverage and Leverage Finance groups at Merrill Lynch. Previously, he worked for Barclays Capital in their Leveraged Finance & Sponsor Coverage Group and NatWest Markets in their Acquisition Finance team.  

Peter is a graduate of Loughborough University and holds a first-class honours degree in Banking & Finance.

Christian Schaefer, Goldman Sachs Asset Management

Managing Director Private Credit

Christian Schaefer is a managing director in Private Credit within Goldman Sachs Asset Management, with oversight of credit investing activities in the German-speaking region.

He joined Goldman Sachs in 2016 as an executive director and was named managing director in 2019.

Prior to joining the firm, Christian worked at J.P. Morgan for 10 years on the firm's Industrials Investment Banking team in London, as well as in the German Mergers & Acquisitions Group in Frankfurt.

Christian earned a master's degree in Business Administration from the European Business School in Oestrich-Winkel, Germany, in 2006.

5:20 pm - 5:45 pmBallroom 2+3

Finding opportunity in less competitive parts of the market: How to avoid more of the same. (ENG)

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Speaker:

Lee Landrum, Manulife Comvest Credit Partners

Partner

Lee joined Manulife | Comvest Credit Partners (“MCCP”) in 2023 as a Partner of the Firm. He serves as a voting member of the investment committee for all strategies and leads the global fundraising team.
Prior to joining MCCP, Lee was a Managing Partner of Tennenbaum Capital Partners (TCP), where he led its global fundraising team and all investor activity. He joined BlackRock (the successor organization) upon the sale of TCP to BlackRock in 2018. Previously, he held senior investment positions at The Carlyle Group and Babson Capital Management (now Barings). Lee began his career in investment banking at First Union (now Wells Fargo).
Lee received an M.B.A. from Vanderbilt University and a B.A. from the University of Georgia and studied at Jesus College at Oxford. 

5:20 pm - 5:45 pmGreen Room

Direct Lending in Europe is robust because it is needed

Speaker:

Sandro Näf, Capital Four

CEO and Portfolio Manager

Sandro co-founded Capital Four in 2007. He is a PM and member of the Investment Committee for Private Debt, Leveraged Loans and High Yield. Prior to Capital Four, he was at Nordea Investment Management, where he was responsible for the European High Yield business, which he initiated in 1999.
Prior to that, Sandro worked with Credit Suisse in New York (fka BEA Associates), London (CS-FirstBoston) and Zürich in various roles in Fixed Income and Corporate Finance / Mergers & Acquisitions.
He holds an MBA from the Tepper School of Business at Carnegie Mellon University and a BS in Computer Science from ITR Rapperswil.

5:45 pm - 6:10 pmBallroom 2+3

Where to Find the Premium in Private Credit (GER)

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Speaker:

Eva Halbritter, Apera Asset Management by Franklin Templeton

Partner

Eva is part of the investment team at Apera and focuses on the DACH market.

Prior to Apera, Eva worked in the Leveraged Finance Group at UniCredit Bank in Munich and London, where she was involved in the origination, structuring and execution of leveraged transactions across various industries in the DACH region. Eva arranged acquisition financing packages for German and international private equity clients, including syndicated senior and sub debt instruments.

Eva graduated from the University of Witten/Herdecke with a MA in Management and holds a BSc in Business Administration from the University of Bayreuth.

5:45 pm - 6:10 pmGreen Room

Subscription Facility and NAV Financing for Private Debt Funds: Regulatory and Practical Challenges

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Speaker:

Dr. Kati Beckmann, Greenberg Traurig

Partnerin

Dr. Kati Beckmann is a partner in the Finance and Private Funds practice areas and leads the German Private Funds practice group. She is also co-head of the German ESG practice group. Dr. Kati Beckmann provides comprehensive advice to sponsors and investors on domestic and cross-border fund structuring, investments in funds, the marketing of funds across various asset classes, as well as NAV and subscription facilities. Her clients include domestic and international sponsors, fund managers, leading German insurance companies, and other institutional investors.
Dr. Kati Beckmann also advises sponsors and investors on regulatory requirements and insurance supervisory law. In addition, she has extensive experience advising clients on financing and refinancing transactions, as well as on workout and insolvency scenarios and distressed loan investments (NPLs).

6:10 pm - 6:20 pm

Networking, Dinnerbuffet & Get-together

Legend: Keynote, Investor Presentation, Panel, Presentation