CREFC Balance-Sheet Lending Leaders Convene for Strategic Roundtable Dinner
May 5, 2026
Last week, CREFC President & CEO Lisa Pendergast hosted an exclusive roundtable dinner, bringing together key members of the Portfolio Lenders Forum (Bank and Insurance) and the Alternative Lenders & High Yield Investors Forum. The evening featured special guest Leland F. Bunch, CREFC Chair and Managing Director at Bank of America, alongside a distinguished group of leaders from the balance sheet lending community.
Participating firms included senior representatives from BGO, Blackstone, Bridge Debt Strategies, Derby Lane Partners, KKR, PGIM, Regions Bank, and US Bank. The intimate setting provided a unique venue for these industry leaders to engage in a candid dialogue regarding current market developments and to offer strategic suggestions on how CREFC can further support the sector.
Key Discussion Highlights:
- The Divergence of Private Credit Performance: The group examined the growing performance gap between unsecured Private Credit, which has faced increasing headwinds, and secured real estate debt funds. Participants noted that real estate debt funds have emerged as beneficiaries of this market divergence, providing strong value propositions in the current environment.
- Benchmarking and Data Development: A critical point of discussion centered on the need for improved transparency and data in the private secured debt space. Executives explored the potential for developing a dedicated index to provide accurate performance benchmarking for the sector.
- Market Trends, Competition, and Credit: Leaders shared observations on trends in the market: while overall deal volumes are down, competition among balance-sheet lenders remains fierce. Members reported that while spreads have tightened to secure quality transactions, they have successfully maintained rigorous credit standards, prioritizing portfolio resilience over volume.
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