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Golding Perspectives | Private Credit
European Lower Mid-Market
More capital does not necessarily create more opportunities. Across European direct lending, competition has increasingly shifted towards larger, sponsor-backed transactions. The lower mid-market offers a different market dynamic.
Lower competitive intensity can support lower leverage, stronger covenants and greater lender influence. At the same time, it places greater demands on analysis, underwriting and disciplined opportunity selection.
With the first edition of our new Golding Perspectives format, we start with Private Credit. The paper focuses on market structure, information quality and selectivity, and why differentiated access and disciplined underwriting matter in the European lower mid-market.
