AMWatch

Super-rich families pour EUR 710bn into private debt market

A Stockholm-based firm, which spun off a family office of a Swedish financier, is investing on behalf of wealthy clients, as well as institutional investors, in the market for direct loans. The private credit market has expanded to EUR 711bn, from just EUR 38bn in 2000, according to London-based research firm Preqin.

Photo: Thomas Borberg

Like many members of the global super rich, Monaco-based financier Evgeny Denisenko faces an investing challenge. Four years ago, he came into a multimillion-dollar windfall when he sold an equity stake to a large Russian pharmaceutical firm.

But in an era when central banks are keeping economies on life support with cheap-money policies and negative-yielding bonds, the traditional assets that used to preserve family fortunes are scarcer and less effective. That means the real value of many a nest egg is dwindling, leaving Denisenko to face the challenge of ensuring that future generations of his family are as rich as he is.

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