Jaime Prieto was invited to speak at the Private Debt Investor New York Forum
This important event gathers over 350 senior professionals responsible for the expansion of the private debt industry in North America. The panel debate gravitated around Brexit, the increasing relevance of the European Private debt market, and the current opportunities.
Brexit will have numerous different impacts on the UK, according to Jaime, with sectors relying on low skilled labour and imports, like retail and the foodservice, suffering the most early on.
With most direct lenders’ portfolios already exposed 20-40% to the UK, the Brexit dislocation should result in some of these investors reducing their investment rythm in the UK and potentially even selling some of their exposure.
As Kartesia has proven its ability to benefit from the regular mini-crises in Europe, and builds its portfolios to ensure strong downside risk protection through strong underwriting capabilities, Jaime saw the credit cycle ahead as an opportunity.
In addition, the Managing Partner insisted on the necessity to have a pan-European team with strong local networks to source attractive opportunities – particularly in the sponsorless segment – and knowledgeable about the different jurisdictions to structure deals appropriately.