Rising interest rates and inflation: What should private debt investors expect?

Five key questions for Sandrine Richard, Head of Private Debt at Generali Investments Partners. Sandrine Richard, Head of Private Debt at Generali Investments Partners, discusses the impact of rising interest rates and inflation on private debt investments as well as the approach to this increasingly important asset class at Generali Investments Partners.

1. You specialise in the selection and the management of private debt. What are your assets under management and in which segments do you operate?

At Generali Investments Partners S.p.A. Società di gestione del risparmio (“GIP”), we manage around €12 billion of invested private debt and €19 billion of committed capital. This committed capital has three main segments: 50% of the amount allocated is invested in corporate private debt with or without sponsors; 25% is in infrastructure debt, and the rest is split between real estate and other categories.

In terms of corporate private debt, we have two main strategies. The first is a fund of funds offering that focuses on best-in-class global asset managers2 and includes direct lending, asset based lending and special situations strategies.

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