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BAI study on the German corporate private debt market / Call for bids / participation in the BAI steering group

Dear Ladies and Gentlemen,

At this year's general meeting, we briefly informed you about the BAI study on the private debt market in Germany we want to launch in the short term. Following this, we would now like to provide you with more information about this study and ask you for your involvement and support.

Object and purpose of the study:

Objective of the study is to gain a determined overview of the (corporate) private debt market in Germany, ie relevant asset managers, market volumes, transactions and companies that use private debt financing. In addition, we want to find out to what extent and with what focus institutional investors in Germany invest into private debt. Our impression is that the German market is still relatively non-transparent, and that data provided by relevant analysis houses and data providers only reflect the German market rudimentarily. We will therefore also try to work with data providers and analysis houses, if desired. We also aim to cooperate with the Alternative Credit Council, which last year published the study "Financing the Economy" and which also briefly addresses the German private debt market. Equally possible and desired is a cooperation with Creditreform, which has been monitoring and analysing the German and European market for credit funds for several years. We will coordinate the study within a BAI steering group which will also discuss whether we shall mandate a consultant for that study (s. below).

Next steps:
For carrying out the study, it might be advisable to mandate a consultant - preferably a BAI member - who has relevant experience and expertise in the (corporate) private debt market, and at the same time can carry out such a study promptly and with due objectivity, ie without conflicts of interest. As of now, BAI member companies can express their interest in the BAI office (contact person is the signatory).

In a first step, we would therefore like to use the steering group (maximum 5 participants + representatives from the BAI Investors' Committee) at short notice, in which on the one hand the topics and contents of the planned study will be pre-arranged, on the other hand the selection of the company that will carry  out the study, will take place. The steering group should also evaluate the interim results of the study so that all relevant topics and aspects are taken into account in the final report. Member companies wishing to participate in the steering group, can also contact the signatory immediately.

The study itself should then be based on standardized questionnaires for asset managers, investors and companies, complemented by one-on-one interviews with relevant stakeholders. All relevant member companies, associated investors, etc. are invited to participate in this survey, so that the results actually increase the transparency of the German market and are, of course, representative. The focus of the study, as indicated above, should be Corporate Private Debt. Infrastructure Debt or Real Estate Debt could follow at a later date.

For the implementation of the study and preparation of the report, we provisionally calculate - depending on the capacity of the service provider to be commissioned - a period of about 3-4 months. This also requires coordination within the steering group.

Sponsor options:
Since it is not uncommon for studies of this kind to be created with the financial support of sponsors, this is an option that we also want to keep open for this study. If you are interested in financially supporting this study, you can also contact the signatory directly.


Frank Dornseifer
- Lawyer -
Managing Director

Bundesverband Alternative Investments e.V. (BAI)

Poppelsdorfer Allee 106
53115 Bonn, Germany 
Fon: +49 (0)228-96987-0
Fax: +49 (0)228-96987-90

The Bundesverband Alternative Investments e.V. (BAI) is the advocacy association for the Alternative Investments industry in Germany. The BAI is catalyzer between German institutional investors and recognized providers of Alternative Investments products worldwide. One goal is to enhance the environment for German professional investors when diversifying their financial assets into Alternative Investments, especially as many of those investors are responsible for safeguarding long-term retirement pensions. Another objective of the association is to increase the awareness level and the understanding of these asset classes and strategies in public. The BAI maintains an intense dialogue with political institutions as well as supervisory bodies. Furthermore, the BAI cooperates with various national and international organizations and industry associations and advocates for legal reforms to design an attractive and competitive regulatory environment for the Alternative Investments industry in Germany. At present, BAI counts 181 members from all areas of the professional Alternative Investments industry.

Bundesverband Alternative Investments e.V. | Poppelsdorfer Allee 106 | D-53115 Bonn
Phone: +49(0)228-96987-0 | Fax: +49(0)228-96987-90 | |

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