The Rise of Private Credit’s Role as Key Creditors in Restructurings
The following session took place during the 2025 International European Insolvency Symposium in October 2025. Private credit has rapidly grown into a multi-trillion-dollar market, reshaping the landscape of corporate finance and restructuring. With global private credit expected to rise from nearly US$2 trillion in 2023 to US$3 trillion by 2028, the influence of private credit funds as key creditors is undeniable. But questions remain as to how these funds will behave in the next major downturn, given their limited experience in workouts and restructuring. This panel will explore the evolving dynamics among private credit funds, banks, private equity and ratings agencies, and consider whether the growth of “private” markets reflects innovation or regulatory arbitrage. Attendees will gain practical insights into what restructuring professionals need to know as private credit cements its role at the center of future distressed situations. All sessions from this conference can be accessed at https://cle.abi.org/.
Materials are available here.
Speakers:
John Willcock, Moderator
Global Turnaround | Bath, United Kingdom
Richard J. Cooper
Cleary Gottlieb Steen & Hamilton LLP | New York, N.Y.
Robert von Finckenstein
Interpath (Deutschland) GmbH | Frankfurt, Germany
Philipp Roever
Fedaia Partners LLP | London, United Kingdom
Christof W. Schiller
Anchor Rechtsanwaltsgesellschaft MbH | Eschelbronn, Germany