Search this website. You can use fund codes to locate specific funds

Video: Direct Lending - Market outlook

Securing yield through long-term lending partnerships.

Mark Miller, Head of Global Client Group, speaks to Patrick Marshall, Head of Private Debt and CLOs, about the current market outlook for direct lending strategies across Europe, where Patrick outlines why he thinks we are currently in an aggressive market.

Hermes Direct Lending - Market Outlook
Learn more about Direct Lending
Patrick Marshall
Head of Private Debt and CLOs

Patrick joined the international business of Federated Hermes in June 2015 to launch and manage the Direct Lending strategy, which invests in senior loans to UK and European mid-market businesses. In this role, Patrick is responsible for the day-to-day management of the Direct Lending Funds and has ultimate authority on which transactions to put forward for investment by the funds, subject to Investment Committee approval. He was previously Head of Direct Lending in London at Tikehau Capital, and Partner at WCAS Fraser Sullivan Investment Management, where he established the firm’s European loan business. Prior to that, Patrick managed loan portfolios in excess of $4bn and $10bn as managing director at the Lehman Brothers Estate and head of European and Asian loan portfolio management and restructuring at Lehman Brothers respectively. He has a Bachelor of Commerce in Business Administration and French from the University of Edinburgh.

More by this author

More Insights

Video: Direct Lending - Introduction to the strategy
Patrick Marshall, Head of Private Debt and CLOs, introduces the Hermes Direct Lending Strategy, which aims to lend to attractive, growing businesses on terms seeking capital preservation and yield capture.
Read more
Your Questions Answered by Hermes Direct Lending
We are joined by the Hermes Direct Lending team for our quarterly Q&A series.
Read more
Cov-lite loans: the new normal, but at what cost?
We explore the implications of loosening covenants and explain why we avoid these instruments.
Read more
Hermes expands global fixed income team with private debt hire
Hermes Investment Management, the £36 billion manager, has announced the expansion of its global fixed income team, with the appointment of Carina Spitzkopf as a Director for Private Debt.
Read more
Amplified: European SME Lending Market
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.
Read more
Ways to successfully tap Europe's rich direct lending pipeline
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.
Read more
View More Insights