What are the key themes in private credit to watch out for?

Andrew Putwain: Could you tell us about your role, your place in the organisation, and what it means as part of the business?

Laura Vaughan: I am Head of Direct Lending at Federated Hermes, an $800bn AUM global active asset manager.

My role sits within the Private Credit business, which launched in 2015 and lends across Direct Lending and Real Estate Debt strategies.

As a member of the Private Credit Investment Committee, I am responsible for implementing the overall strategy of our Direct Lending funds, alongside playing a key role in fundraising, as well as managing a team of investment analysts who assess potential loans made by our funds.

Andrew: Moody’s has predicted that the private credit market will grow to $3 trillion (£2.3 trillion) by 2028, up from $1.5 trillion today. What are the key drivers of this?

Laura: The Private Credit market has grown rapidly over the last decade, as following the global financial crisis, when banks retrenched from lending, they created a gap in the market.

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