Josh Shipley, Managing Director and Head of European Private Credit, shares his thoughts on activity in 2026 so far, and his perspective for the rest of the year:

"Across the region, businesses continue to demonstrate resilience. Despite headwinds arising from geopolitical tensions, inflationary pressures and supply chain disruptions, companies have largely been able to adapt, adjusting operating models and passing through costs where possible, while maintaining a focus on stability and long-term growth.

Looking ahead, while visibility on pipelines may be less predictable than in previous years, underlying financing demand remains intact, supported by refinancing needs, capex investment and growing demand for private markets as a source of alternative capital. Overall, we remain cautiously optimistic, supported by our ability to tailor flexible capital solutions to companies’ individual needs and to deploy capital across sectors, strategies and market conditions."

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