The Growth of Private Credit (UPDATED!)
VENUE CHANGED TO 20/F, H-Code, 45 Pottinger Street, Central
(NOTE: The meeting venue has been changed to 20/F, H-Code, 45 Pottinger Street, Central)
After the Great Financial Crisis, regulators in the US and EU made it more difficult for banks to lend directly to middle market companies. As a result, private credit grew dramatically to fill the gap in the market. In the US, the share of non-bank financing to private corporations is now larger than bank financing (according to Bank for International Settlements). Some argue that this shift is beneficial for the economy as private funds are not deposit-taking institutions and are generally funded by sophisticated investors who are capable of undertaking more risks than banks. On the other hand, private funds are not regulated by a central authority and many more LPs are pension funds who may now be subject to systematic risks that we have never seen before.We invite you to join the upcoming meeting of the Economic Club of Hong Kong to discuss the aspects of The Growth of Private Credit on August 29 from 19:30 to 21:00 at BCW Group (20/F, H-Code, 45 Pottinger Street, Central) (Doors open at 19:00). Sandy Yeung will provide opening remarks before we commence with a free-flow discussion on the topic based on the recommended readings before. Prior to joining the event, please prepare by reading the recommended material. Please be punctual and respectful to your fellow attendees.
Prior to joining the event, please prepare by reading the recommended material. We will have a speaker for this event, though your self-preparation is the key to fruitful and engaging discussion. Please be punctual and be respectful to your fellow attendees.
About Sandy Yeung:
Sandy Yeung is currently a Senior Associate at King & Wood Mallesons specialising in debt finance and special situations. She advises both borrowers and lenders on private debts and was previously seconded to Goldman Sachs Asian Special Situations Group and KKR. Sandy serves as a member of the APLMA Women in the Loan Market Asia Committee.
Click “Going” on Facebook to sign up: https://fb.me/e/1hheN1vrH
Sign up on Eventbrite: https://www.eventbrite.com/e/the-growth-of-private-credit-tickets-701821064697Date/Time: Tues, August 29th, 19:30-21:00
Location: BCW Group (20/F, H-Code, 45 Pottinger Street, Central)
Fee: It's FREE to attend. BYOB.
Recommended materials to read:
1. Private Lenders Take Control of More Companies as Rates Surge https://finance.yahoo.com/news/private-lenders-control-more-companies-140000536.html
2. Financial Times - The private credit ‘golden moment’ https://www.ft.com/content/42297b43-7918-4734-b6d5-623c6d6fa00f / https://archive.ph/QlimG
3. Hot dogs or fine dining? The private credit conundrum https://www.afr.com/chanticleer/hot-dogs-or-fine-dining-the-private-credit-conundrum-20230811-p5dvuj / https://archive.is/NLRDH
Sign up: Click "Going" on our Facebook event page and register on Eventbrite.
Fee: It's free to attend the event.
Format: All attendees are expected to come prepared and actually read suggested material and/or self-educate on the topic from our sources of their choice. We will split into small sub-groups of 4 people each to have a free-flow discussion on the theme of the evening. Please be punctual and be respectful to your fellow attendees.
The Economic Club is a community of intellectually curious people in Hong Kong. Events are run by passionate volunteers.