May 18, 2023
Co-Head of GP Advisory, Roger Li, spoke with With Intelligence on how "Private credit managers are looking to seize opportunities in fund financing amid a continuing crisis in the US banking sector."
Roger noted: “Looking at the trio of SVB, Signature Bank, and First Republic Bank, they were very entrenched in the GP universe, including extending capital call lines and other financial products, such as cash management. I think now that those banks are essentially gone, there is a significant hole in the market. The question is, who’s going to fill it?”
The article continued, with Roger saying, “the natural pools of capital are private credit asset managers, of which Briarcliffe has met with a number of firms that have entered the space over the past few years, but also insurance companies that are active on a direct basis, particularly for larger deals."