8:00am | ‘Meet the Allocator’ Breakfast Roundtables (GP only)

Start your day by joining an exclusive roundtable discussion led by an investor and ACC team member.LPs share allocation insights in a relaxed setting, while GPs gain a clearer view of investor priorities andengagement strategies.

9:15am | Panel One | State of the Private Credit in 2025

Our annual senior industry leaders’ overview of the global private credit market in 2025, reflecting the impact of tariff reform, interest rate dynamics, geopolitical risk, and growth of private credit across regions and asset classes.

Discussion Points:

  • How private credit is weathering current economic conditions
  • How deal structures and pricing are responding
  • Regional outlook: US, Europe, and emerging markets
  • Key risks and opportunities for the next 12–18 months

10:00am | Masterclass Sessions - Part One

Real assets track

Private credit data track

Structured credit track

Session A – Infrastructure Debt -
A market update on real estate-backed private credit, with a focus on the areas of the market where private credit is most active, the product they are typically offering to borrowers and key questions for any investor considering this asset class.

Discussion Points:

  • Office vs. logistics and residential exposure
  • Regional divergence in property values
  • Lender protections and underwriting discipline
  • Capital availability in a re-pricing environment

Session B – Private Credit Data Presentation - 
A data-driven session offering insights on market size, performance, flows, and manager trends drawn from proprietary and public datasets.

Discussion Points:

  • Fundraising trends by strategy and region
  • Default rates and recovery trends
  • Manager dispersion and fee benchmarking
  • LP allocation behaviors and pipeline visibility

Session C – SRT: State of the Market in 2025 and what to Expect in 2026 - 
A data-driven session offering insights on market size, performance, flows, and manager trends drawn from proprietary and public datasets.

Discussion Points:

  • Fundraising trends by strategy and region
  • Default rates and recovery trends
  • Manager dispersion and fee benchmarking
  • LP allocation behaviors and pipeline visibility

11:00am | Keynote: Leveraging the Brand Equity of Private Credit

An exploration of how firms and managers can elevate their reputations and build lasting trust with LPs through branding, transparency, and differentiated positioning.

Discussion Points:

  • Building institutional trust in a competitive market
  • Communication strategies for GPs in volatile markets
  • How LPs perceive manager branding and reputation

11:30am | Panel Two | Asset-Based Lending: Private Credit with Collateral-Backed Confidence

A deep dive into asset-based lending (ABL) trends, highlighting how collateralised structures are driving investor confidence and expanding credit strategies.

Discussion Points:

  • Growth of ABL across industries and geographies
  • Risk mitigation via collateralisation
  • Regulatory developments impacting ABL
  • Innovations in structuring and monitoring collateral

12:10pm | Fireside chat: Real Estate Debt: attractions of private credit in an uncertain market

A market update on real estate-backed private credit, with a focus on the areas of the market where private credit is most active, the product they are typically offering to borrowers and key questions for any investor considering this asset class.

Discussion Points:

  • Office vs. logistics and residential exposure
  • Regional divergence in property values
  • Lender protections and underwriting discipline
  • Capital availability in a re-pricing environment

1:20pm | In Conversation with the Chair of the Alternative Credit Council

An introductory session with the newly appointed Chair of the ACC, sharing their vision for the Council and priorities for the private credit community.

Discussion Points:

  • Strategic direction and new initiatives
  • Key advocacy areas for 2025
  • Collaboration across the global credit ecosystem
  • Member engagement and feedback

1:45pm | Panel Three | Products Vs Solutions: What is it that LPs want from their GPs?

An LP-centric discussion about the evolution from traditional fund products to tailored solutions that meet specific portfolio objectives.

Discussion Points:

  • Are LPs demanding more customization?
  • Co-investments, SMAs, and hybrid strategies
  • GPs’ ability to deliver outcomes vs. performance
  • Fee structures and alignment of interests

2:35pm | Masterclass Sessions – Part Two

Insurance track

Product design track

Regulatory track

Session A - Focus on Rated Note Feeder Structures - 
Exploring the use of rated note feeder structures to unlock new investor bases, improve capital efficiency, and meet institutional preferences.

Discussion Points:

  • Structure mechanics and benefits
  • Rating agency criteria and challenges
  • Operational setup and governance
  • Demand from insurance and sovereign wealth LPs

Session B - Trends in Fund Financing
A look at the latest fund-level leverage solutions and how they’re evolving to support liquidity, working capital, and investment flexibility.

Discussion Points:

  • NAV-based lending and subscription lines
  • Lender appetite and pricing dynamics
  • Regulatory scrutiny and transparency
  • Use cases across strategy types

 

Session C - AIFMD II: Getting Ready for Implementation -
Practical guidance on preparing for the revised requirements of the Alternative Investment Fund Managers Directive on Loan Originating Funds.

Discussion Points:

  • Key changes affecting private credit firms
  • Leverage and liquidity rules
  • Implications for product design and fundraising
  • Timelines and compliance planning

3:35pm | Fireside Chat: Stimulating Growth in Europe

European regulators share updates and insights on how policy and supervision are adapting to support the sustainable growth of private markets and how this fits within their mandates.

4:05pm | Panel Four | Evolution of the UK Pensions Market

Exploring how reforms of the UK pension sector are reshaping private credit allocations and how these trends will develop in the next few years.

Discussion Points:

  • The UK government’s reform agenda and implications for the UK pensions market
  • Appetite for illiquid alternatives and practical challenges for UK pensions
  • What the LP community would like to see from GPs