17 December 2020, London UK – The European Leveraged Finance Association (ELFA), a trade association comprised of European leveraged finance investors from over 35 institutional fixed income managers, including investment advisors, insurance companies, and pension funds, today announces the creation of a new committee to serve investors in the private debt market.
The Private Debt Committee will provide a forum for direct lenders to explore a range of themes, including the role of LPs as a catalyst for change in lending practices, improved ESG disclosure, and how private debt market participants can help to shape the future of the asset class in Europe.
The committee, which will be chaired by Carina Spitzkopf, Director for Private Debt at the International business of Federated Hermes, will also explore how changes in national legal frameworks, such as the EU restructuring directive, might impact direct lenders across Europe, and how the European direct lending landscape might evolve in light of the UK’s exit from the European Union. Potential regulation and diversity and inclusion in the direct lending market will also feature in the in the list of projects.
The Private Debt Committee will hold its first meeting in January 2021. Investors interested in joining the committee should contact Sabrina Fox, Executive Adviser to the ELFA, at sfox@elfainvestors.com.
Alex Kay, Chair of the ELFA’s Board, said: “Representation of investors in private debt falls well within the ELFA’s remit to act as a forum for investors in European leveraged credit. The market for this innovative asset class is quickly evolving and as a trade association we are looking to support its growth.”
Carina Spitzkopf, chair of the Private Debt Committee, said: “Given the expanding role of direct lending within European credit investing, the formation of the Private Debt Committee is not only timely, but also seems a natural fit with the ELFA’s growing voice in the European leveraged finance market. We are looking forward to supporting the asset class by providing a platform for market participants to engage in its continued development.”
Sabrina Fox, Executive Adviser to the ELFA, said: “The creation of the Private Debt Committee will allow the ELFA to deepen engagement with existing members, and to realise synergies with resources we are already developing, including in relation to ESG in leveraged finance. I am delighted to have the opportunity to work with Carina to develop the committee, which reflects yet another way the ELFA can serve leveraged finance investors in Europe.”
**ENDS**
The European Leveraged Finance Association (ELFA) is pleased to announce the appointment of Irem Sukan, Marios Halloumis and Glenn Oliver Anderson as the new Co-Chairs of the ESG Committee. Irem, Marios and Glenn will take over from Tina De Baere, Oliver Newman and Lily Baik following their decisions to step down.
The European Leveraged Finance Association (ELFA) has published a summary of industry roundtables, held in response to its recent Open Letter (“Taking Stock of Market Standards on Disclosure, Process, and Engagement in the European Leveraged Finance Market”) which highlighted persistent concerns around limited disclosure, overly compressed deal timelines, and increasingly restrictive transferability terms, all of which are undermining efficiency and resilience in Europe’s leveraged finance market.
The European Leveraged Finance Association (ELFA), in collaboration with global law firm Akin, has today published the second issue in its Transferability Series, focusing on the evolving use of whitelists in leveraged finance documentation.
Already a member? 