Direct Lenders Have Taken Keys to Nearly 150 Companies in Europe

Some 146 companies in Europe have ceded control to direct-lending funds after they could no longer afford to pay their debts, according to Goldman Sachs Group Inc.

The findings offer a rare glimpse into one of the more opaque areas of the $1.8 trillion private credit market. Unlike US peers that run business development companies and publicly disclose portfolio valuations, European direct-lending funds generally do not publish detailed information about the value of their holdings publicly.