Private debt funds brace for SME bonfire

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By Silas Brown
16 Mar 2020

Private debt funds in Europe may be the hot new thing to some in capital markets but they could be about to come of age, having never been through a serious credit downturn before. The market is under scrutiny over how it will cope with the credit ramifications of Covid-19.

Several sources have noted two concerns that could be problematic for certain private debt funds. 

Firstly, if a fund is open-ended then it could have problems with investors pulling their cash. There is not an active secondary market in private debt, so funds tend to work with a company ...

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