Paul W. Robson, CFA - President, Crestline Canada

Chris Semple – Partner, US Credit, Crestline Investors, Inc.

The direct lending market has been constantly evolving over the last 25 years, however the past decade has seen significant changes resulting in new pitfalls for lenders.  In particular, private equity sponsors have grown in both prominence and influence, ushering in an era of EBITDA add-backs, deteriorating covenant quality and diminishing lender protections in the process. Chris Semple, Partner – US Credit, will walk you through the implications of these trends and what steps lenders and investors can take to avoid or minimize the impacts on their portfolios.