Co-Head of GP Advisory, Roger Li, spoke with Refinitiv on how "asset managers are taking advantage of investor demand for private debt and its healthy returns." He noted that "mega funds help solidify lenders’ positions in existing relationships. [Portfolio managers] will wake up sweating when they know there’s a refinancing or an add-on, and they don’t have the wallet to show up. Because for every deal you miss, you risk being replaced as the incumbent lender.”

The article concluded by quoting Roger, “Fund managers need to constantly have dry powder."