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Interview with Bill Sacher – private credit: opportunities, returns and traps for the unwary

 
 

Our hosts Eamon Devlin and Paul Durban, interview William "Bill" Sacher, Partner & Head of Private Credit, New York, Adams Street Partners. During the interview, we discuss the following topics:

• Growth of private credit and latest private credit opportunities.

• How will private credit operate when government Covid-related funding is turned off?

• Default rates and threats to be aware of re private credit.

• How LBO funding has changed re the debt funding.

• Private credit returns + return premium.

• Tips to borrowers.

Bill Sacher is Chair of the Adams Street Partners Private Credit Investment Committee and a member of the Executive Committee. Bill leads the investment, portfolio construction, and fundraising efforts of the Private Credit Team, and manages key relationships with general partners in North America and Europe.

Prior to joining Adams Street, Bill was head of the US Private Debt Group (at the time the Mezzanine Debt Group) at Oaktree Capital Management. In this role he developed the strategy, managed the team, and approved the investments. In conjunction with Oaktree’s in-house marketing team, Bill led the fundraising effort for each of the three funds for which he was responsible.

Prior to Oaktree, Bill worked at J.P. Morgan, where he was the Co-Head of both the Leveraged Finance Origination Team and the High Yield Capital Markets Group. Bill previously worked at NationsBank as head of the high yield business where he was responsible for the High Yield Origination Team, the High Yield Capital Markets Group, Private Placements, and NationsBridge (the banks bridge loan unit). Bill commenced his career at Bear Stearns.

Zoë Devlin's drawing representing Bill Sacher with an apple and references to NYU and banks.
©  Zoë Devlin 2020/2021

Relevant links:

MJ Hudson services - Private funds law

Bill Sacher's LinkedIn - Click here

Adams Street Partners website - Click here

Bill Sacher co-authored whitepaper - Private credit update: Maintaining stable valuations in uncertain markets

MJ Hudson quick read - Two paths diverge in a wood - Differences between U.S and European fund terms

MJ Hudson quick read - Re-packing UK pre-packs: 5 key effects on creditors and other stakeholders

MJ Hudson quick read - Line dance: The rise of subscription credit lines in private funds

MJ Hudson quick read - When investors default – part 1: commitments and consequences

Featured song - Grateful Dead - Truckin'

 
  • Topics
  • Adams Street Partners
  • Bill Sacher
  • covid
  • covid-19
  • LBO
  • leverage
  • private credit
  • returns
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