Private Credit Value Flips to Europe, Says BC Partners

Overview

Amid heightened volatility in American capital markets, there are more attractive private-debt options elsewhere, according to alternative investment manager BC Partners. “In 25 years of doing this, it’s probably the first time we’re seeing actually decent relative value in Europe,” said Ted Goldthorpe, the firm’s head of credit. “The US has always provided better relative value in every environment — that’s kind of changed,” Goldthorpe tells Bloomberg News’ James Crombie and Bloomberg Intelligence’s Arnold Kakuda in the latest Credit Edge podcast. Besides specific European opportunities, Goldthorpe and Kakuda also discuss sports lending, the impact of tariffs on US mid-market borrowers, private loan valuations and the pipeline for acquisitions.