About the Event
KBRA DLD’s Breakfast Briefing: Navigating the European Private Credit Market
18 November 2025 | 08:15 - 12:00 GMT
London, UK
Join KBRA DLD, a division of KBRA Analytics, for our inaugural European event in London on Tuesday 18 November. KBRA DLD, in conversation with industry peers, will delve into today’s market challenges, exploring how Europe is positioning private credit for 2026. In addition to our European direct lending default insights, we will offer our views on navigating volatility and how US tariffs have helped open Europe to more investors.
Where
The Connaught Hotel
Carlos Pl, London W1K 2AL, United Kingdom
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08:15-09:00 GMT
Registration & Networking Breakfast
Enjoy some breakfast while connecting with peers and colleagues across the European private credit community.
09:00-09:10 GMT
Welcome Address and Introduction
Speaker
- Kelly Thompson, Founder and Managing Director, KBRA DLD
09:10-09:30 GMT
Panel: Data Deep Dive
KBRA DLD’s senior research analysts examine what third-quarter data reveals about the European direct lending market heading into the close of 2025 and beyond. The discussion will look under the hood of pricing and deal terms, and the evolution of stress within the market.
Speakers
- Ioana Barza, Global Head of Research, KBRA DLD
- Eric Rosenthal, Head of Default Research, KBRA DLD
- Dave Puchowski, Director of Research, KBRA DLD
09:30-09:15 GMT
Panel: Room for Manoeuvre
Senior direct lenders discuss how Europe has navigated volatility since April and the continuing competition with bank arrangers across the large-cap to lower mid-market segments. As more investors discover European private credit, panelists will share how their firms are positioning for the opportunities and challenges of 2026.
Speakers
- Richard Oliver, Partner, Ares Management
- Tara Moore, Managing Director, Head of European Originations, Golub Capital
- David Wilmot, Founding Partner, Apera Asset Management
Moderator
- Rachel McGovern, Managing Director, KBRA DLD
10:15-10:30 GMT
Keynote: European Macro Outlook
Gordon Kerr, European Macro Strategist at KBRA, will outline the key macroeconomic challenges facing credit markets today and what to expect in the year ahead.
10:30-11:30 GMT
Coffee and Networking
Continue the conversation over coffee and light refreshments with speakers and attendees.
Speakers
Kelly Thompson
Managing Director
KBRA DLD
KBRA Analytics
Rachel McGovern
Managing Director
KBRA DLD
KBRA Analytics
Eric Rosenthal
Senior Director
KBRA DLD
KBRA Analytics
Ioana Barza
Senior Director
KBRA DLD
KBRA Analytics
Dave Puchowski
Director
KBRA DLD
KBRA Analytics
Gordon Kerr
European Macro Strategist
KBRA
Richard Oliver
Partner
Ares Asset Management
Tara Moore
Managing Director, Head of European Originations
Golub Capital
David Wilmot
Founding Partner
Apera Asset Management
KBRA Analytics Sales
KBRA DLD’s Breakfast Briefing: Navigating the European Private Credit Market
18 November 2025 | London, UK
KBRA is a global full-service rating agency with a mission to set a standard of excellence and integrity. Established in 2010, KBRA remains dedicated to the restoration of trust in credit ratings by creating new standards for assessing risk and by offering timely and transparent ratings. KBRA provides market participants with an alternative solution by delivering in-depth research across various sectors within the US, UK and European markets. We strive to provide the investment community with the products and tools needed to make informed investment decisions.
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