1、Alternative ViewsAnnual Private Credit Survey 2025Expertise.Trust.Scale.ForewordMethodologyWe offer a wide range of services both for debt capital markets and for non-bank lending.In the burgeoning private credit market,we free lenders and borrowers from the operational burden of arranging and manag

2、ing loan deals,irrespective of size and complexity,staying on top of cash flows and communications between lenders and borrowers,and serving private equity sponsors,private debt funds,banks and borrowers alike across a whole range of sectors.Crucially we ensure secure restructuring and enforcement.O

3、ur new annual survey asks key professionals across the European private credit industry for their views and insights on how the market is developing,where they see the best prospects for growth and how they judge the opportunities against the risks.We conducted our survey between 28th March and 2nd

4、April as speculation was intensifying about the potential severity of US trade policy.We then resurveyed our respondents at the end of April to see if their expectations for 2025 had changed.We surveyed 210 professionals from across Europe,with a particular focus on the UK and Ireland,Germany,Switze

5、rland,Benelux and the Nordic region.They work across the industry,including borrowers,advisers,primary and secondary debt fund management professionals and,private equity managers using private credit.Contents02 Foreword02 Methodology03 Introduction04 Viewpoint Seeing beyond the squall Cato Holmsen

6、CEO Nordic Trustee&Global Head of Ocorian Capital Markets06 Our respondents07 Overview10 Findings and key themes 10 Market growth,the year ahead 13 Medium-term outlook 18 Risk appetite 19 Competitive pressures 21 Market structure 23 Focus on infrastructure 27 Focus on regulation 31 Focus on ESG 33 T