Skip to main content

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
8:55 am - 9:05 amBallroom 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.

9:05 am - 9:50 amBallroom 2+3

Keynote: The Performance of Private Credit Funds in Light of Potential Data Biases

Pascal Böni is  Professor of Finance at Vlerick Business School, the joint business school of KU Leuven and Ghent University in Belgium. He conducts research, teaches, and advises investors in the private markets sector and maintains an extensive database on private credit funds. In his presentation, he discusses latent data distortions in the private credit asset class that remain hidden from standard data analysis. He explains their origins and their impact on measured performance based on a recent, as-yet-unpublished study. What performance do private credit funds actually generate after adjusting for latent biases? His presentation answers this question and helps both investors and analysts professionally assess the asset class.
 

show more

Speaker:

Prof. Dr. Pascal Böni, Vlerick Business School

Finanzprofessor an der Vlerick Business School

Prof. Dr. Pascal Böni, MBA, MBL-HSG, is Professor of Finance at Vlerick Business School, the joint business school of KU Leuven and Ghent University in Belgium. His research and advisory work focuses on Private Markets (Private Equity and Private Credit), as well as Corporate Finance and M&A. He holds a PhD from Tilburg University, an MBA from Simon Business School, University of Rochester (New York), and a Master of Business Law (MBL) from the University of St. Gallen. He conducts research, teaches, and advises companies and investors in these areas.

Previously, he headed the Tilburg Institute for Private Markets at Tilburg School of Economics and Management, Tilburg University, in the Netherlands. He also teaches Private Markets at the University of Basel and contributes to research in his field as a member of the Scientific Board of the Annual Private Markets Research Conference in Lausanne.

Trained in negotiation at Harvard and Oxford and a CEDR-accredited mediator, he specialises in complex negotiations and transactions as well as out-of-court dispute resolution in Private Markets, Corporate Finance, and M&A.

Pascal Böni is also Chairman of the Swiss Remaco Group (Nexia International), which was founded in 1947. For more than 20 years, he has advised boards of directors, investors, and entrepreneurs on Private Equity, Private Credit, Corporate Finance, and M&A transactions. As Lead Advisor, he has been involved in more than 100 transactions. He has served on the boards of listed and privately held companies in the financial services, media, sports & entertainment, and technology sectors.

9:50 am - 10:35 amBallroom 2+3

Fireside Chat: 15 Years of Private Debt: How an Institutional Investor Assesses the Market, Managers, and Risks (ENG)

show more

Speaker:

Lutz Horstick, Ärzteversorgung Westfalen-Lippe

Leitung Abteilung Wertpapiere und Darlehen

After completing his training as a bank clerk, Lutz Horstick studied business administration while working and earned his Certified European Financial Analyst (CEFA) designation. Horstick has been working in the financial sector since 1998. After holding positions at various banks and asset management firms, he has headed the Securities and Loans Department at Ärzteversorgung Westfalen-Lippe (ÄVWL) since 2011. There, he was specifically responsible for the private and commercial lending business, the liquid investment portfolio, alternative investments, and infrastructure investments. In August 2026, he was appointed managing director. In this role, as head of the Investment Division, he is responsible for all of ÄVWL’s investments as well as for providing investment management services to other pension funds. His responsibilities also include ESG coordination.


Andreas Kalusche, BAI e.V. | Prime Capital AG

Vorstand, BAI e.V., Vorstandsvorsitzender, Prime Capital

Andreas Kalusche is CEO of Prime Capital AG in Frankfurt. He has been working there since August 2014 and is responsible for Investor coverage, distribution and solutions including international markets, public relations (incl. external appearance / marketing / communication) as well as the project management team.

Previously, he served as Managing Director at JPMorgan in Frankfurt and London for a total of 14 years, both in the markets and Investment Bank divisions, most recently as Head of Financial Institutions Group for Germany, Austria and Switzerland. Prior to that, Mr. Kalusche worked for 7 years at HSBC Trinkaus & Burkhardt in Corporate Banking and Capital Markets - both in Dusseldorf and London.

Mr. Kalusche specializes in management and advising of a large variety of financial institutions (insurance companies, pension funds, banks, asset management companies) as well as corporates and family offices. His education and experience include asset management, capital management and raising of capital, risk management and ALM, as well as strategic advice in corporate finance and M&A. Mr. Kalusche has extensive transaction experience.

Mr. Kalusche holds a degree in Economics from the University of Hannover and is Wilhelm-Launhardt laureate of this University. He also studied at the Ecole Supérieure de Commerce in Rouen (France). Before graduating, he completed his training as a banker at Norddeutsche Landesbank in Hannover.

Mr. Kalusche regularly holds courses at the EBS University for Business and Law, Wiesbaden / Rheingau.

10:35 am - 11:05 am

Coffee break

11:05 am - 11:35 amBallroom 2+3

Core Middle Market Direct Lending: A Cornerstone of Institutional Allocations (ENG)

show more

Speaker:

Christopher Bone, Partners Group

Partner, Co-Head Direct Lending Europe

Christopher Bone is Head of Private Credit Europe and Asia, based in London. He is Co-Chairman of the Global Direct Credit Investment Committee, Chairman of the Direct Credit Europe and Asia Investment Committees, and a member of the Direct Credit US Investment Committee. He has been with Partners Group since 2010 and has 25 years of industry experience. Prior to joining Partners Group, he worked at AlpInvest Partners, RBS, PricewaterhouseCoopers and Ernst & Young. Christopher holds a master's degree in finance from the University of Durham, UK and is also a CFA charterholder.

11:05 am - 11:35 amGreen Room

Transparentes Reporting, das Vertrauen schafft.

show more

Speaker:

Olaf Streitenberger, DWS

Senior Portfolio Manager Direct Lending Team

Olaf Streitenberger is Senior Portfolio Manager Fixed income and joined the company in 1990 and is based in Frankfurt am Main. Prior to his current role, Olaf headed the Credit Risk Portfolio Management Analytics and Tools team within the Corporate & Investment Banking division. In this function he focused on the oversight of stress test analysis, watch list process and product limit monitoring. Prior to this role Olaf worked for an independent Credit Risk rating control function "Asset Quality Review" in Frankfurt and New York. He has a degree in Banking Business ("Diplomierter Bankbetriebswirt") from Frankfurt School of Finance & Management; MBA from Duke University's Fuqua School of Business; MBA from Goethe Business School.

11:35 am - 12:00 pmBallroom 2+3

Speaker:

Matthias Erb, StepStone Group

Partner

Matthias Erb has been a partner at StepStone for over 20 years. He’s advising institutional investors in strategic, portfolio and structural requirements related to tailormade private market solutions. Matthias’ main focus is hereby currently the Private Debt asset class and investors in Germany, Austria and Scandinavia. Matthias is also a member of StepStone’s insurance practice group which is one of our major client base.

All in all Matthias brings more than 27 years practical alternative investment knowhow to the table. After starting his career at Helvetia Insurance, Matthias was leading the global Alternative Risk Financing & Transfer business of Zurich Insurance for many years plus was a member of the structured finance team in New York.

Matthias is a member of the executive board of the Bundesverband Alternative Investments (BAI) in Germany, has a Master in Finance from the University of Zurich and is a CFA Charterholder.

11:35 am - 12:00 pmGreen Room

Beyond the spread: Finanzierungschancen abseits des Direct Lending (ENG)

Direct lending has absorbed effectively all of the capital inflows in past years, while capacity in the remaining segments has not grown at the same pace. The consequence is materially less competition in other credit strategies. In the presentation we explore alternative credit strategies beyond DL, discussing drivers as well as return cases. Strategies include Healthcare, Capital Solutions / Opportunistic, and Real Estate Lending to give the audience an insight into flexible financing solutions, which will become more and more an integral part of capital structure.

show more

Speaker:

Marc Chowrimootoo, Hayfin Capital Management

Portfolio Manager and Co-Head of Direct Lending

Marc joined Hayfin in 2022 and is a Portfolio Manager and Co-Head of Direct Lending in the Private Credit team, focusing on sourcing and analysing investment opportunities, and providing portfolio management across the private credit strategies.
Prior to joining Hayfin, Marc was a Managing Director at Goldman Sachs based in Paris, leading its Credit Finance footprint expansion across Europe, having started his career as a banking and capital markets attorney at White & Case. Marc graduated from University of Oxford with a BA in Jurisprudence.

12:00 pm - 12:25 pmBallroom 2+3

Asset-Based Finance: Expanding the Private Credit Opportunity Set (ENG)

Asset-Based Finance is emerging as one of the fastest-growing segments of private credit as banks retreat from key lending markets. We will explore the opportunity set, its role in institutional portfolios, and the key considerations for manager selection in a highly diverse asset class.

show more

Speaker:

Brian Moore, Blue Owl Capital

Managing Director

Brian Moore is a Managing Director at Blue Owl and member of the Alternative Credit Investment Team. In his role, he focuses on evaluating and structuring asset-based financing transactions for borrowers in the financial services sector. Before joining Blue Owl, he was an Investment Professional at Atalaya Capital Management, the predecessor firm to Blue Owl’s Alternative Credit team. Brian began his career in investment banking at Deutsche Bank, where he worked on the Leveraged Finance team. Brian received his BSE in Operations Research and Financial Engineering, with a minor in Environmental Studies, from Princeton University.

12:00 pm - 12:25 pmGreen Room

Financing Europe’s Middle Market: The Evolving Role of Private Credit (ENG)

Private credit has emerged as a central pillar of the European financing ecosystem, filling the gap left by traditional lenders while providing investors with differentiated risk-return characteristics. The session will discuss how market structures have evolved, where opportunities and risks are emerging, and what the future may hold for European middle-market lending.

show more

Speaker:

N.N., Ares Management


12:25 pm - 1:10 pmBallroom 2+3

Panel: Private Credit in an Age of AI Disruption

Panellists:

Peter Arnold, LBP AM

Head of European Private Markets

Peter Arnold has more than 30 years' experience in the banking and asset management sector, where he has held various management positions, notably in business development, marketing and fundraising. At Schroders, Peter played a key role in the development of the “Schroders Capital” platform, dedicated to unlisted assets. Previously, Peter spent 19 years at Citigroup, initially in the Multi Asset Solutions team, before creating and leading the Private Funds Group business from 2009 to 2019. Peter began his career in sales at JP Morgan, Société Générale and UBS.

Malek Ghali, Clearlake Credit

Managing Director, Private Credit (Europe)

Malek Ghali: Joined in 2010 - Managing Director, Private Credit (Europe). Malek joined Clearlake Credit as a member of the Investment Team. He is also a member of the Investment Committee. Prior to Clearlake Credit, Malek worked as an external auditor in Deloitte Lebanon, specialising in financial institutions. Malek holds a Master of Science in Quantitative Finance from Cass Business School London, and a Bachelor’s degree in Business Administration (Finance) from the American University of Beirut (Lebanon).

12:25 pm - 1:10 pmGreen Room

Panel: The Non-sponsored Credit Market

Panellists:

Matthew Harvey, PGIM

Global Head of Middle Market Direct Lending

Matthew Harvey is a Managing Director and the Head of Middle Market Direct Lending, located in Chicago. He serves on Direct Lending’s Global Investment Committee, European Investment Committee and One-Stop Committee, and is responsible for all aspects of PGIM Credit’s middle market direct lending business, including managing the investment team that originates and underwrites Direct Lending investments, exercising portfolio management duties, and supporting fundraising efforts. He joined PGIM in 2003, originally on a team in the Chicago Corporate Finance office responsible for private placement investments throughout the Midwest region of the U.S. Matt then joined the middle-market mezzanine debt and structured equity fund management business in 2005 until 2012, when he relocated to the London office to lead PGIM’s mezzanine investment efforts in the U.K. and Europe.

He returned to Chicago in 2015 before leading PGIM’s Direct Lending initiative in 2018. Matt received a BS from DePaul University.

Dr. Daniel Heine, Patrimonium Asset Management

Head of Private Credit

Daniel Heine is a co-founder of Patrimonium and oversees all private credit activities at Patrimonium. Prior to the company’s formation, he worked as a Financial Consultant for Merrill Lynch International and before that, as a management consultant at A.T. Kearney. He studied Business Administration at the University of St. Gallen and received a Master of Arts from the University of Oxford. He also holds a Ph.D. of the University of St. Gallen.

1:10 pm - 2:20 pm

Lunch

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

Parallel Lending: An underestimated asset class for Institutional Investors (ENG)

show more

Speaker:

Gianpaolo Pellegrini, Muzinich

Managing Director & Co Head of Parallel Lending

Gianpaolo has been responsible for the investment origination and execution activity of the parallel lending strategy from inception. He also contributed to designing the Capital Solutions Strategy.  He serves on the Investment Committees for both Parallel Lending and Capital Solutions. Milan based, he oversees Italian private credit investments for the various different strategies. Before joining Muzinich, Gianpaolo worked at Mediobanca for over 12 years in various positions: first in the Milan Leveraged Finance team and later in London where he became Head of UK Debt Origination (Leveraged & Acquisition Finance, DCM and derivatives). For a number of years he also covered the Nordic and US markets. He earned a degree from Bocconi University (Milan) in Business Administration.

2:20 pm - 2:45 pmGreen Room

Global Private Credit - A Double Hedge for Total Credit Portfolios (ENG)

Speaker:

Johnny Brom, SAIL Investments

CIO


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

Panel: Private Credit Secondaries

Moderation

Hans Stamm, Dechert LLP

Partner

Hans Stamm, an attorney and specialist in tax law, focuses his practice on alternative investment funds and structured asset management products, particularly with regard to the legal and tax structuring and implementation of these products. He also advises on the structuring and implementation of digital asset investment products (including crypto funds and tokenized fund structures).

Panellists:

Christopher Bone, Partners Group

Partner, Co-Head Direct Lending Europe

Christopher Bone is Head of Private Credit Europe and Asia, based in London. He is Co-Chairman of the Global Direct Credit Investment Committee, Chairman of the Direct Credit Europe and Asia Investment Committees, and a member of the Direct Credit US Investment Committee. He has been with Partners Group since 2010 and has 25 years of industry experience. Prior to joining Partners Group, he worked at AlpInvest Partners, RBS, PricewaterhouseCoopers and Ernst & Young. Christopher holds a master's degree in finance from the University of Durham, UK and is also a CFA charterholder.

Toni Vainio, Pantheon

Partner and Head of European Private Credit Investment

Toni is a Partner and founding member of Pantheon’s Global Private Credit Investment team and currently serves as Head of European Private Credit. Toni joined Pantheon in 2010. He previously worked in the private markets team at Cambridge Associates, where he advised institutional investors on their private market investment programs and conducted research and due diligence on private market funds, managers, and markets. Toni has an MPhil in economics from the University of Oxford and a BEng in engineering with business finance, which was jointly taught at University College London and the London School of Economics and Political Science. He is fluent in Finnish, Spanish and English.

2:45 pm - 3:30 pmGreen Room

Panellists:

Fady Chammas, Triton Partners

Investment Advisory Professional, Triton Debt Opportunities

Fady joined Triton Partners from Alchemy Partners, a London-based special situations’ fund. Prior to joining Alchemy, he had worked at the Merchant Banking division of Rothschild and J.P. Morgan. Fady has a Master of Science in Financial Engineering and Risk Management from the Imperial College London and a BA in Economics from the American University of Beirut. 

Thomas Lehner, Allianz Investment Management

Private Debt


Nicole Waibel, Crescent Capital

Managing Director

Nicole is a Managing Director at Crescent Capital, focusing on European private credit. She joined Crescent in 2013 from Indigo Capital, a European specialist lending fund, where she was a Partner responsible for sourcing and leading debt and related equity investments in Germany and Switzerland, as well as executing deals in France and Central and Eastern Europe. She previously worked at BNP Paribas in Media & Telecom Finance in Paris and Frankfurt. Nicole began her career at Arthur Andersen in transaction support services in Frankfurt.

Nicole received an MA in Economics from Münster University and Erasmus University Rotterdam.

Crescent is a global credit investment manager with approximately $53 billion of assets under management as of June 30, 2026. For over 30 years, the firm has focused on non-investment grade credit through strategies that invest in marketable and privately originated debt securities including senior bank loans, high yield bonds, as well as private senior, unitranche and junior debt securities. Crescent is headquartered in Los Angeles with offices in New York, Boston, Chicago, London and Frankfurt with over 240+ employees globally. Crescent is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. For more information about Crescent, visit www.crescentcap.com.

 

Dr. Theo Weber, BlackRock

Portfolio Management DACH

Dr. Theo Weber, Managing Director, is Head of Origination of Private Debt in Germany within BlackRock International Fixed Income, responsible for the sourcing and execution of middle market direct bond investment opportunities in the German market. Prior to joining BlackRock in 2016 Theo was Head of GE Capital’s market leading Leveraged Finance team in Germany. With a team of eight he covered the German private equity market and led numerous mid-market transactions in leveraged finance. In addition, he was responsible for the GE/Ares joint venture in DACH (Germany, Austria and Switzerland). He joined GE Capital in 2007 with responsibility for healthcare investments (equity and debt). During his 9 years at GE he originated and executed numerous leveraged finance transactions across Europe including club transactions, syndicated lead deals and unitranche financings. He also represented GE in various occasions at private debt conferences and on panel discusisons. Prior to that he was leading Deloitte’s and PwC’s Private Equity Advisory practices closing several first time deals for UK private equity funds in Germany. Theo graduated at University Erlangen-Nuernberg and earned a PhD from University of St. Gallen, Switzerland.

3:30 pm - 3:55 pmBallroom 2+3

The Evolution of Hybrid Markets (ENG)

Speaker:

Amer Khatoun, Blackstone

Senior Managing Director

Amer Khatoun is a Senior Managing Director in the Tactical Opportunities Group in London. Since joining Blackstone in 2014, Mr. Khatoun has been involved in the execution of the firm’s investments in De Nora, Beauparc, Superbet, HH Global, Lombard, NIBC, SII and Sia. He currently serves as director of HH Global, Sia, Sunotec and Superbet.
Before joining Blackstone, Mr. Khatoun was a Senior Associate with H.I.G. Capital in London where he was involved in the analysis and execution of mid-market private equity transactions across a number of sectors. Prior to that, Mr. Khatoun was an analyst with Goldman Sachs and Citi in London, where he worked in their Mergers & Acquisitions divisions.
Mr. Khatoun received a BSc in Economics and Politics from the University of Bristol.

3:30 pm - 3:55 pmGreen Room

Infrastructure Financing Under the Microscope: What Outage Data Reveals About Risk and Resilience

Infrastrukturinvestments gelten häufig als besonders stabil und resilient – doch wie homogen ist die Anlageklasse tatsächlich aus Kreditrisikosicht? Auf Basis empirischer Ausfalldaten und aktueller Marktanalysen beleuchtet der Vortrag Risiko und Resilienz verschiedener Infrastruktursektoren. Im Fokus stehen unter anderem Energie, Versorger, digitale Infrastruktur, Transport sowie Gesundheit & Soziales.

show more

Speaker:

Dr. Benjamin Mohr, Creditreform Rating AG

Mitglied der Geschäftsleitung

Dr. Benjamin Mohr is a member of the Executive Board of Creditreform Rating AG and is responsible for relationship management as well as heading the ESG Sustainability division. Previously, he worked at American Express and held various positions within the Creditreform Group, including Chief Economist at Creditreform Rating.
He holds a degree in economics from the University of Frankfurt and earned his Ph.D. in economics from the FernUniversität in Hagen, where he also served as a research assistant. His areas of expertise focus particularly on credit markets and financial stability. Dr. Mohr has published numerous economic analyses and research papers and is the author of a book on institutional and regulatory frameworks for ensuring financial stability.


3:55 pm - 4:40 pmBallroom 2+3

4:40 pm - 4:50 pm

Networking & Drinks

Legend: Keynote, Investor Presentation, Panel, Presentation