Hayfin is pleased to announce the appointment of Daniel Stevenson as Managing Director and Head of Capital Markets, effective immediately.
Daniel joins from Deutsche Bank, where he spent over 14 years in the leveraged finance team, most recently as Managing Director in Leveraged Debt Capital Markets. In that role, he advised global corporate and sponsor-backed clients on high-yield bonds and leveraged loan financings, supporting some of the largest acquisition and expansion transactions in the market.
Marc Chowrimootoo, Portfolio Manager and Co-Head of Direct Lending, said: “Daniel’s appointment marks an important step in broadening Hayfin’s origination and execution capabilities. With larger transactions accounting for an ever-greater share of private credit deal volumes, access to and understanding of capital markets are critical. Daniel’s extensive experience will be a valuable addition to our existing coverage of the private credit, bank and syndicated markets. We look forward to welcoming him to the team and meeting the evolving needs of our borrowers, sponsors and co-investment partners.”
Daniel Stevenson, Managing Director and Head of Capital Markets, said: “I am excited to be joining Hayfin as the firm expands its reach across a wider range of deal sizes and types. The opportunity to bring my experience in leveraged finance to support the growth of a buy-side platform, and to work with such a talented team, was a compelling one. I look forward to helping Hayfin continue to innovate and scale in the years ahead.”
Hayfin today announced that it has entered into a strategic partnership with Samsung Life Insurance (“Samsung Life”). As part of this planned initiative, Samsung Life will acquire a minority stake in Hayfin from Arctos Partners (“Arctos”), a move jointly structured by Arctos and Hayfin to broaden Hayfin’s institutional shareholder base.
The transaction builds on Hayfin’s recently announced strategic partnership with Mubadala Investment Company (“Mubadala”) and AXA IM Prime, a business unit of AXA IM – part of the BNP Paribas Group (“AXA IM Prime”) – which saw Mubadala and AXA IM Prime each acquire a minority interest in Hayfin. Like Mubadala and AXA IM Prime, Samsung Life will support Hayfin’s investment strategies in tandem with becoming a minority shareholder. The transaction further strengthens Hayfin’s footprint in South Korea, reaffirming its commitment to clients in the region.
The addition of a third new institutional minority shareholder represents the next stage in a coordinated post-management buyout (“MBO”) plan led by Hayfin and Arctos, with Arctos continuing to provide long-term strategic support through its Keystone platform, which provides bespoke growth capital and liquidity solutions to leading financial sponsors. The resulting shareholding has enabled the Hayfin team to become majority owners of the firm’s common equity. Completion remains subject to customary regulatory approvals.
Tim Flynn, Co-Founder and Co-Chief Executive Officer at Hayfin, said: “This strategic partnership with Samsung Life is another strong endorsement of the franchise we have built. It completes our plan to bolster Hayfin’s shareholder base post-MBO through the addition of best-in-class institutions from across the globe onto our platform. Through establishing this partnership with Samsung, we look forward to deepening our commitment to the South Korean market, where we see investor demand for investment strategies continuing to grow.”
Joonkyu Park, CIO of Samsung Life Insurance, said: “We are very excited to partner with Hayfin, a recognised leader in the European market, and this strategic partnership will play a vital role in the growth and global expansion of Samsung Life’s asset management business. Hayfin has built an excellent long-term historic investment track record and will continue to provide a broad array of attractive investment opportunities, further strengthening our focus on the private capital market. We look forward to supporting Hayfin’s ongoing growth alongside Arctos, Mubadala, and AXA IM Prime.”
Hayfin today announced it has entered into strategic partnerships with Mubadala Investment Company (“Mubadala”) and AXA IM Prime, a business unit of AXA IM – part of BNP Paribas Group (“AXA IM Prime”), on behalf of one of its investment funds. As part of the agreement, each firm will acquire a minority interest from Arctos Partners (“Arctos”) in Hayfin and leverage their capabilities and expertise to support Hayfin’s investment strategies.
The transaction builds on the partnership between Hayfin and private investment firm Arctos. In February, Hayfin completed a management buyout (“MBO”) supported by Arctos via its Keystone strategy, which provides strategic partnerships to leading financial sponsors, through bespoke growth capital and liquidity solutions. The transaction facilitated the Hayfin team becoming majority owners of the firm’s common equity.
To enhance the MBO, Hayfin and Arctos jointly sought to distribute a portion of the firm’s institutional ownership to additional strategic minority shareholders. Mubadala and AXA IM Prime, alongside Arctos, will support the continued growth of Hayfin to further deliver on the firm’s long-term objectives of greater team ownership, alignment and incentivisation.
Hayfin will remain focused on generating superior and consistent risk-adjusted returns for its clients. As with the Arctos-backed buyout, the transaction will lead to no changes in Hayfin’s strategy, investment process, leadership or day-to-day operations. Completion remains subject to customary regulatory approvals.
Tim Flynn, Co-Founder and Co-Chief Executive Officer at Hayfin, said: “This is another landmark step, building on our partnership with Arctos, in what is an exciting new chapter for Hayfin. We are thrilled to welcome two best-in-class long-term partners in Mubadala and AXA IM Prime, each of whom represent strong endorsements of the platform we have built at Hayfin. Mubadala and AXA IM Prime bring unique perspectives and resources from around the globe that will support Hayfin’s ongoing growth and delivery of value for our clients, investors, borrowers and sponsors.”
“We are excited to partner with Hayfin as they embark on this new chapter of growth,” added Omar Eraiqaat, Deputy CEO of the Credit and Special Situations platform at Mubadala. “Their track record, investment discipline, and shared values with Mubadala make them an ideal fit for our long-term capital. This partnership reflects our conviction in Hayfin’s platform and leadership team and reinforces our strategy of backing high-quality asset managers that deliver value to all their stakeholders.”
Gilles Dusaintpère, Head of AXA IM Prime GP Stake investments at AXA IM said: “We are proud and excited to partner with Hayfin and to enhance our existing relationship. We fully endorse Hayfin’s development and long-term objectives of greater team ownership, alignment and incentivisation. Our investment strategy is designed to partner and align with best-in-class private markets players, and we look forward to supporting Hayfin and its team alongside Mubadala and Arctos.”
In our 2024 outlook, Hayfin argued that the European market offered one of the most attractive opportunity sets in private credit globally[1]. One year on, the evidence is even more compelling.
In the last six months, in particular, geopolitical risk and heightened trade tensions have accelerated a process that has been years in the making: institutional allocators looking beyond the US market to Europe, drawn by its unique market structure and comparatively untapped landscape. Once seen as a challenge, the continent’s fragmented financial ecosystem is now a source of competitive advantage for managers with local presence and scale.
Policy shocks and portfolio shifts
The reintroduction of extensive US tariffs on imports from trading partners around the world has reignited trade tensions and introduced fresh volatility into the global investment landscape – but particularly in the US and China. Even with these measures often having been quickly reversed or put on pause, they have raised inflationary concerns and complicated global supply chains, prompting allocators to reassess their geographic exposure.
A popular destination for that diversification is Europe, which, by contrast,offers a comparatively more stable political and regulatory backdrop. This divergence is already being reflected in capital flows. According to Preqin, Europe-focused private credit funds raised $25.7 billion in Q1 2025, nearly tripling the $9.3 billion raised by US-focused counterparts[2].
While North America still represents around 75% of private credit assets, this trend was the most common theme discussed at the 2025 SuperReturn Conference in Berlin. At the private capital industry’s top convention, asset managers and allocators cited a deliberate move toward non-US private markets, with Europe emerging as a priority region. This momentum for European private credit has been accelerated by a move from allocators to rebalance away from private equity, given current overweighting and the challenges faced in that asset class.
Crucially, however, investors aren’t simply avoiding short-term geopolitical risk; allocators are increasingly drawn to the structural advantages and return potential Europe offers.As US markets become increasingly saturated, Europe continues to present a differentiated opportunity set that rewards selectivity, local presence and underwriting discipline.
Structural strength and strategic opportunity
At the heart of Europe’s appeal is its structural distinctiveness. The continent is heavily segmented and continues to be a bank relationship-oriented market[3]. As regulatory pressures persist under Basel IV and banks continue to pull back from the mid-market, private credit is stepping into a widening gap.
But what sets Europe apart is the quality of its deal flow, not just its availability. European private credit transactions typically offer a 50–150 basis-point margin premium over comparable US loans, often with tighter documentation and lower leverage than their US counterparts[4]. Recovery rates are higher, and default rates remain lower, supported by tested creditor-friendly legal regimes in jurisdictions such as the UK, Luxembourg and the Netherlands.
Finally, Europe’s complexity, its patchwork of languages, legal systems and market norms also creates a natural barrier to entry. For new entrants, clearly, that’s a challenge. For managers with deep regional networks and on-the-ground infrastructure, this fragmentation becomes a protective moat. It enables proprietary deal flow, differentiated origination, more nuanced risk assessment and greater control over structuring and execution.
While the US market becomes increasingly commoditised, Europe rewards regional expertise and scale. This differentiation is increasingly valuable in a global market where capital is abundant but high-quality opportunities are scarce.
The move to Europe is underway
The case for European private credit is no longer theoretical; it’s playing out in real time. As US markets grapple with policy-driven volatility and competitive saturation, Europe offers a less crowded, structurally attractive alternative.
For investors seeking resilient returns, downside protection and differentiated deal flow, Europe offers some of the most compelling opportunities in the market today.
REFERENCES
[1] Hayfin, ‘Why Europe? Market Considerations for Private Credit’, 23 May 2024
[2] S&P Global, ‘Europe-focused private credit fundraising outpaces US efforts’, 03 April 2025
[3] S&P Global, ‘Credit FAQ: How Private Credit’s European Expansion Brings Rewards And Risks’, 09 May 2023
[4] Hayfin, ‘Why Europe? Market Considerations for Private Credit’, 23 May 2024
Hayfin has appointed Antonio Gomez-Tembleque as a Managing Director in its Private Credit team focused on real estate investments. He will be based in Hayfin’s Madrid office.
Antonio joins Hayfin from Apollo Global Management where he led investment and asset management initiatives across Europe, with responsibilities at Lapithus Management involving both performing and non-performing loans as well as direct real estate investments. He also served as Finance Director for Europe and Asia at Apollo Management International LLP and co-founded LSA Sports Inc. In addition to this, Antonio spent a decade at PwC in New York and Madrid, where he was a Director in the Capital Markets Group, advising on IPOs and finance raising for both public and private companies.
Carlos Colomer, Managing Director in the Private Credit team, said: “We are pleased to welcome Anto in the Private Credit team. He brings extensive experience in real estate and credit investing, having led complex transactions across a diverse range of assets. He joins Hayfin at an exciting time as we look to capitalise on a highly attractive opportunity set for flexible capital across the European real estate space. We look forward to meeting that by scaling the reach and ambition of our Private Credit strategy as we continue to expand our footprint.”
Hayfin has appointed Raj Paranandi as Chief Operating Officer (COO), based at the firm’s London headquarters.
Raj joins Hayfin from MarketAxess, an international financial technology company that operates the leading electronic trading platform for institutional credit markets, where he served as COO of EMEA and APAC. Prior to this, Raj spent 10 years in leadership positions at UBS and he comes with over 25 years of experience in Financial Services.
As COO, Raj will succeed Mark Tognolini, who will assume the role of co-Chief Executive Officer alongside Tim Flynn. This evolution in leadership reflects the collaborative management style that Mark and Tim have maintained since co-founding Hayfin and is designed to further strengthen the firm’s ability to serve its investors, borrowers, and partners.
Raj Paranandi, COO of Hayfin, said: “I am excited to be joining Hayfin as the firm continues to experience strong growth. With a deep origination network and unparalleled connections across the European market, the firm has established an enviable track record. I look forward to building on this as the business continues to scale, attracts talent and deepens its market footprint.”
Tim Flynn, co-CEO of Hayfin, said: “Mark and I are delighted to welcome Raj as COO of Hayfin. His deep experience and record will put the firm in great stead as we accelerate our expansion and capitalise on the growing credit opportunities for our investors.
This is an exciting period for the business. Our partnership with Arctos and established reputation for excellence enables us to navigate market volatility and geopolitical uncertainty while positioning the firm for continued success.”
Hayfin is pleased to announce that its $355 million bilateral acquisition facility for V.Group’s buyout by STAR Capital and Ackermans & van Haaren has been named as the ‘Private Credit Deal of the Year’ 2024 by Marine Money. Leveraging its expertise in corporate lending and maritime finance, Hayfin developed a sophisticated private credit solution based on its deep understanding of industry dynamics, the growing call upon third-party managers due to increased regulation and technical demands, and the inherent resilience in a business of V.Group’s scale.
The loan blends Hayfin’s maritime expertise with structured credit and is backed by operational sustainability and predictable revenue streams. It’s testament to the team’s unique in-house capabilities and industry experience that they have been able to translate a strategic partnership into a creative credit solution.
As global shipping evolves and faces new challenges, the sector will require flexible financing. Hayfin is uniquely placed to meet that demand and will continue to work with borrowers, investors and clients as they navigate the maritime market.
In times of rapid market change, the temptation is often to react quickly by making sense of new information through the lens of daily price moves and hourly headlines. But when structural shifts are underway, a more productive approach can be to zoom out and evaluate what’s happening in the context of long-term trends and historical precedents. That’s especially true now that global trade policy takes centre stage once again.
Hayfin is pleased to announce that Sumitomo Mitsui Trust Bank, Limited (“SuMi TRUST Bank”), a leading Tokyo-headquartered bank, has invested in Hayfin’s Maritime Yield strategy, bringing total strategy commitments to over $620 million across the commingled fund and related separately managed accounts.
The investment is the latest addition to the c.$400m in capital commitments raised for the fund in 2023 and has taken Hayfin’s total deployment capacity significantly past $1bn when coupled with conservative debt financing.
This latest fundraising round is a further extension of Hayfin’s track record in the maritime sector, having invested in excess of $4 billion across various sectors – dry bulk, tankers, containers, LPG, and LNG. The firm has deployed capital into the sector through its private credit strategies, as well as the Maritime Yield strategy, which focuses on building a diversified asset-owning platform, generating long-term, stable income.
SuMi TRUST Bank’s commitment will directly support the development of sustainable maritime transportation through the Hayfin Maritime Yield strategy. The investment underlines the gaining momentum for decarbonisation of the shipping industry, both within local markets and globally. It will strengthen networks between the maritime industry and financial markets while developing a collaborative relationship with Hayfin’s Japan team.
Andreas Povlsen, Head of Maritime, commented: “We’re delighted to have secured this important commitment from SuMi TRUST Bank, underlining our lasting commitment to the Japanese market through our Maritime Yield strategy – not just investors, but also shipbuilders, operators, leasing companies and trading houses. Our maritime platform offers exposure to high-quality assets that help underpin global trade flows and is working to drive forward the decarbonisation of the global shipping sector, which is a proposition that increasingly resonates with institutions in Japan and elsewhere around the globe.”
Hayfin’s latest report, Opportunities in Volatility, outlines our approach to navigating significant geopolitical and economic headwinds, including the impact of tariffs, trade tensions, and supply chain disruptions on global financing.
The report includes an in-depth analysis of the current private credit landscape and examples of how these dynamics have shaped our strategies for capital deployment.