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  • The EU Directive on preventive restructuring frameworks finally comes into force this summer.
  • Patrick Marshall
    We are joined by the Hermes Direct Lending team for our quarterly Q&A series.
  • July 31, 2018
    Private Markets
    Patrick Marshall
    Despite ongoing disintermediation in the European direct-lending market, strong origination agreements with banks continue to be vital to access high-quality loans – particularly in the mid-market space. In this podcast Patrick Marshall, Head of Private Debt and CLOs and Laura Vaughan, Head of Direct Lending explain why.
  • July 2, 2018
    Fixed Income
    Patrick Marshall
    In an era of rising correlations, institutional investors are increasing exposure to alternative asset classes. At the forefront of this trend is direct lending, where institutional investors can access sustainable yields and sources of uncorrelated returns. In his latest insight, Patrick Marshall, Head of Private Debt and CLOs at Hermes Investment Management, discusses how to successfully tap expanding opportunities in European direct lending.
  • May 16, 2018
    Fixed Income
    Patrick Marshall
    Hermes Investment Management (Hermes), the £33.0 billion manager, has today announced that it has launched the Hermes European Direct Lending Fund, which is managed by Patrick Marshall, Head of Private Debt & CLOs. The European Fund follows the successful launch of the UK Direct Lending Fund in 2016. The Fund offers access to the stable, low-correlated returns from high-quality, senior-secured loans to a diverse range of middle-market businesses in the UK and Europe, with a focus on Scandinavia, Germany, Benelux and Ireland. Senior-secured transactions are originated through co-lending partnerships with Danske Bank, DZ Bank and KBC Bank, which sit alongside the existing UK mid-market agreement in place with Royal Bank of Scotland. As some of the largest mid-market lenders in their respective regions, the agreements provide investors access to a strong deal flow, with attractive opportunities across a wide range of sectors. Further to this, the team’s broad network of contacts among private equity firms, banks and borrowing businesses creates an additional source of origination across Europe.
  • February 9, 2018
    Fixed Income
    Patrick Marshall
    Mark Miller, Head of Institutional meets with Patrick Marshall, Head of Private Debt and CLOs to discuss the Hermes European Direct Lending Strategy.
  • February 9, 2018
    Fixed Income
    Patrick Marshall
    Mark Miller, Head of Institutional meets with Patrick Marshall, Head of Private Debt and CLOs to discuss the Hermes European Direct Lending Strateg
  • October 12, 2017
    Fixed Income
    Patrick Marshall
    Not all senior loans are created equal, and the cov-lite form – those with weaker investor protections – are dominating the large-cap segment of the European market. We completely avoid these instruments, focusing instead on covenanted mid-market deals, which offer more attractive returns with stricter risk controls than cov-lite large-cap deals.