Finding Opportunities in Private Lending and Distress

The U.S. economy has so far confounded forecasts of a recession yet rising interest rates are changing the calculus for private markets investors. A retreat from traditional corporate lending by banks in the wake of the crisis earlier in the year promises more opportunity for private lenders that have already seen booming demand over several years. But this period could also signal new opportunities for distressed investors, given pockets of corporate weakness and macroeconomic warning signs. This two-part webinar will examine the opportunities for both kinds of investor.

Part 1: Riding the Growth of Asset-Based Lending

Private asset-based lending has seen a surge of interest as banks retreat and as lenders favor loans with lower risk and against a backdrop of persistent inflation and rising interest rates. This panel will look at how the market is changing, innovation in products and how asset-backed loans fit in a broader credit strategy.

Evan Carruthers

Co-CEO, Chief Investment Officer and Managing Director, Castlelake

As managing partner, co-chief executive officer and chief investment officer, Carruthers is responsible for Castlelake’s overall strategy, including all investment and operational activities, as well as guiding its mission, culture and investment approach.  Carruthers has more than two decades of asset investing experience and helped design Castlelake’s asset- and credit-based investment activities. 

Sara McGinty

Managing Director and Head of Capital Markets, Alternative Credit, Ares Management

Sara McGinty is a managing director in the Ares Credit Group where she leads capital markets within the alternative credit business. Prior to joining Ares in 2023, McGinty was the head of partnerships and business development and co-head of capital markets at Theorem Partners, a San Francisco based asset manager focused on credit. 

Part 2: Distressed Investing in a Resilient Economy

Recession has yet to materialize in the U.S. but many companies are feeling the pinch of interest rates that raise the cost of capital and inflation that increases the cost of inputs and labor. Defaults and bankruptcies are at multi-year highs, with spreading distress in the commercial real-estate market. In this session, distressed investors will consider the best opportunities for snapping up assets.

Cindy Chen Delano

Co-Founder and Partner, Invictus Global Management

Cindy Chen Delano is co-founder and partner at Invictus, an Austin, Texas-based special situations and private credit opportunities firm. She plays an integral role in the firm’s investment strategy by integrating legal analysis and litigation expertise into every stage of the investing process and leads the firm’s strategic activism campaigns.

Randy Raisman

Managing Director, Capital Solutions Group, Marathon Asset Management

Randy Raisman has served as a managing director in Marathon Asset Management’s capital solutions group since 2012. At Marathon, he leads several large investments for the funds across the healthcare, consumer retail, financial services, travel and leisure sectors and the Municipal Bond market.

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