Shearman & Sterling hosted a panel at the 23rd Annual Thomson Reuters LPC Loan and CLO Conference on Thursday, September 14, 2017 at the Marriott Marquis in New York City. Global Finance Practice Group Leader Ronan Wicks and Jason White, a partner in the Finance practice, moderated the panel on “The Convergence of Direct Lending and Traditional Lending in LBOs.” Panel participants included David Colla, Senior Principal, Credit Investments at CPP Investment Board; Philip A. Lindenbaum, Managing Director and Associate General Counsel at Cerberus Capital Management; and Joe McCurdy, Senior Managing Director and Head of Origination at Guggenheim.

Topics included: 

• How are lending dynamics changing given direct lenders’ growing role?
• How does this convergence of larger direct lending funds coming into the traditional leveraged lending space play out in the market?