The European Direct Lending Opportunity
Over the past fifteen years, the growth of Direct Lending has been one of the most significant developments in global finance. Direct Lending has evolved from a niche financing solution into one of the most attractive segments of global private markets. Assets under management in European Direct Lending have grown more than tenfold over the past decade. Structural forces continue to accelerate the shift towards Private Credit. Basel IV regulations are increasing the cost of lending for banks and borrowers increasingly value the certainty, flexibility and speed offered by direct lenders. Read about the European Direct Lending opportunity in this paper.
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This paper is for informational purposes only and does not constitute investment research or financial analysis relating to transactions in financial instruments as per MIF Directive (2014/65/EU), nor does it constitute an offer to buy or sell any investments, products or services, and should not be considered as solicitation or investment, legal or tax advice, a recommendation for an investment strategy or a personalized recommendation to buy or sell securities.
Due to its simplification, this paper is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.
Edited by BNP PARIBAS ASSET MANAGEMENT Europe, a company incorporated under the laws of France, having its registered office located at 1 boulevard Haussmann - 75009 Paris, registered with the Paris Trade and Companies
Register under number 319 378 832, and a Portfolio Management Company, holder of AMF approval no. GP 96002,
issued on 19 April 1996.
AXA IM and BNPP AM are progressively merging
AXA IM and BNPP AM are progressively merging and streamlining our legal entities to create a unified structure
AXA Investment Managers joined BNP Paribas Group in July 2025. Following the merger of AXA Investment Managers Paris and BNP PARIBAS ASSET MANAGEMENT Europe and their respective holding companies on December 31, 2025, the combined company now operates under the BNP PARIBAS ASSET MANAGEMENT Europe name.