Private Credit

Continental European Half Year Activity & Outlook – Private Credit: Views From the Ground

July 30, 2025

 

Our continental European offices discuss the activity they saw across the credit spectrum in the first half of 2025 and their outlook for the rest of the year across the region. Read more at the download below.

Digital map of continental Europe with illuminated borders

Josh Shipley, Managing Director and Head of Private Credit for Europe comments: “The first half of the year saw varied activity across strategies and regions, with some notable transactions across corporate financing, direct lending, and infrastructure.

Borrowers and sponsors are navigating a complex environment shaped by geopolitical tensions, inflation, and shifting supply chains. There’s growing interest for local-for-local production models, diversified funding sources, and long-term partnerships with non-bank lenders.”

1

GLOBAL MACRO SHAPING OUTLOOK

Tariffs, inflation, and regional dynamics are key factors, causing corporates and sponsors to proceed with new opportunities cautiously

2

SHIFT TOWARDS RESILIENCE

Local production models to mitigate supply chain risks and diversified funding sources are key for businesses in the current environment

3

OPPORTUNITIES IN INFRASTRUCTURE

Aging traditional infrastructure, the green energy transition, and growing demand for digital infrastructure offers an opportunity to provide essential financing

“Our longstanding relationship with Mersen is a testament to the strength of our partnership-driven approach. We’re proud to have supported them in this strategic refinancing and to provide the flexible, Euro-denominated capital they needed to advance their 2029 strategic plan.”

Jennifer O’Neill-Mardokh, Executive Director
Belgium and France regions

<p>“Our longstanding relationship with Mersen is a testament to the strength of our partnership-driven approach. We’re proud to have supported them in this strategic refinancing and to provide the flexible, Euro-denominated capital they needed to advance their 2029 strategic plan.”</p>

Meet the Teams

Joshua Shipley, CFA
Joshua Shipley, CFA

Managing Director, Europe & UK Corporate Finance

Max Boury
Max Boury

Senior Director, Europe & UK Corporate Finance

Jennifer O’Neill-Mardokh
Jennifer O’Neill-Mardokh

Executive Director, Europe & UK Corporate Finance

Florian Seifert, CFA
Florian Seifert, CFA

Senior Director, Europe & UK Corporate Finance

Thomas Krausser
Thomas Krausser

Executive Director, Europe & UK Corporate Finance

Jose Ortiz
Jose Ortiz

Executive Director, Europe & UK Corporate FInance

Francesco Ascoli
Francesco Ascoli

Managing Director, Europe & Uk Corporate Finance