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Private Credit Market to See M&A as Virus Forces Consolidation

May 22, 2020, 12:00 PM

The $800 billion private credit market may see more M&A among lenders as some are forced to contend with problems in their own debt portfolios.

Over the next year or two the market is likely to see more consolidation among private credit providers, as less well-positioned firms struggle with portfolios or lack of scale, Randy Schwimmer, head of origination and capital markets at Churchill Asset Management, said in an interview.

“For lenders that have been living on the riskier edge of the credit spectrum, the next quarter or two will prove whether that strategy has made sense,” Schwimmer said....

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