
European private credit is entering a more selective phase.
As the market expands to areas like asset-based finance, mid-market CLOs and credit secondaries, investors are looking more closely at where complexity can create differentiated value.
In this phase, relative value depends on more than yield. Documentation, collateral quality, structure and downside protection matter.
Carolyn Hastings reviewed these themes at @News_PDI’s 2026 Europe Summit, highlighting how disciplined underwriting and active portfolio engagement will be key as the European market continues to mature.



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