Episode Summary
In this episode, Robert Olsen, Vice Chair, Private Capital at Nicola Wealth explores private debt investments with industry expert Howard Widra, Partner at Apollo and Head of Direct Originations at MidCap Financial. Joined by Jurgen Van Vuuren, Senior Director & Head, Private Debt at Nicola Wealth, they explore the intricacies of MidCap's extensive portfolio of senior debt solutions, from leverage lending to asset-based lending.
Howard shares insights into MidCap's journey since its establishment in 2008, highlighting challenges encountered and the firm's commitment to disciplined portfolio management. Meanwhile, Jurgen offers valuable perspectives on private debt investment from the lens of high-net-worth individuals, showcasing Nicola Wealth's strategic approach.
Additionally, they delve into the drivers behind the growth of private credit, dispelling misconceptions and examining the implications of capital concentration among major private credit firms on market competition. They also explore the current state of the M&A market and its ripple effects on private debt activity.
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Howard Widra
Partner at Apollo and Head of Direct Origination at MidCap Financial
Howard Widra is Partner and Head of Direct Origination, Credit, at Apollo, and has been with the Firm and/or its affiliates since 2013. He was appointed Executive Chairman of MidCap Financial Investment Corporation in August 2022. He served as the Company’s Chief Executive Officer from May 2018 to August 2022 and as President from June 2016 to May 2018. He has also been a Director since May 2018. Howard is a co-founder of MidCap Financial and formerly its Chief Executive Officer. Prior to MidCap, Howard was the founder and President of Merrill Lynch Capital Healthcare Finance, and President of GE Capital Healthcare Commercial Finance before that, where he held senior roles in its predecessor entities.
Howard holds a JD awarded cum laude from the Harvard Law School and a Bachelor of Arts from the University of Michigan.
Disclaimer
This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM Fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.
