Interest rates and inflation: impacting private credit
Interest rates and inflation: impacting private credit


Chris Hentemann organized and launched 400 Capital Management LLC in October 2008. Chris is Managing Partner and Chief Investment Officer of 400CM as well as the Chair of the Firm’s Investment and Executive Committees. Prior to 400CM, Chris was Head of Global Structured Products at Banc of America Securities where he led the strategy for lending, securitization, trading, sales, research and investment management of residential and commercial mortgage asset-backed securities, CLOs, tax and credit derivatives. Prior to joining BAS, Chris was Vice President and a senior trader in residential mortgage securities, CMOs and derivatives at Salomon Brothers Inc. Chris began his career at CS First Boston where he was responsible for trading and structuring residential mortgage securities, CMOs and derivatives. Chris serves on the Executive Committee for the Boston College Wall Street Business Leadership Council, and the Board of Directors for Domus Kids and the Henrik Lundqvist Foundation. Chris graduated from the Carroll School of Management at Boston College in 1990 with a Bachelor of Science in Finance.

Nedelina Lazarova is an Investment Manager at HQ Trust, one of the largest multifamily offices in Germany. She is responsible for selection, due diligence, execution and monitoring of Private Debt investments. Prior to joining HQ Trust, she was Project Lead for the multibillion Alternative Credit Program of a large German life insurance company, and was covering Private Corporate Debt, Infrastructure Debt, Commercial Real Estate Debt, Mortgages, Leveraged Loans and other alternative lending strategies. Prior experience includes manager due diligence of traditional investments and hedge funds, as well as consulting and project experience in M&A and valuation of structured products. She holds a Bachelor’s Degree in Business Administration from Ludwig Maximilian University of Munich and a Master’s Degree in Quantitative Finance from Bocconi University. She is a CFA (Chartered Financial Analyst), FRM (Financial Risk Manager) and CAIA (Chartered Alternative Investment Analyst) Charterholder.

Corrado Pistarino has 25 years' experience in investment banking and asset management. He is CIO at Foresters Friendly Society. Previously, he was Head of Insurance LDI at Aviva Investors, responsible for £10bn of insurance funds and £30bn of derivatives. Corrado has a degree in Physics from Turin University and a Master in Finance from London Business School.

Tom Speller is a Managing Director and the Head of European Funds at KBRA UK. Tom joined KBRA in 2021 and focuses on the rating of Fund Finance transactions including subscription lines and NAV loans.
Prior to joining KBRA, Tom was an executive director at Goldman Sachs International, where from 2006 he worked as a credit risk analyst covering a variety of industries and products, with a particular focus on the funds industry, including private equity funds and hedge funds, as well as structured lending.
Tom received a BSc. in mathematics and statistics from the University of Edinburgh and is currently a CFA Charterholder.

Joe Lazewski serves as Senior Managing Director and Co-Head of NXT Capital and Senior Vice President of NXT Capital Investment Advisers, LLC. NXT Capital is an established middle-market direct lender and a subsidiary of ORIX Corporation USA. Mr. Lazewski is a member of ORIX USA’s Management Committee. He joined NXT Capital in 2010 and is based in Chicago.
Mr. Lazewski is jointly responsible for setting the strategic direction and overseeing all aspects of NXT Capital’s middle market private debt strategy. He supervises and manages all risk-related activities in the Direct Lending Group. His responsibilities include overseeing evaluation, structuring, diligence and closing new transactions, portfolio management, account monitoring and reporting, maintenance and compliance with NXT Capital’s Policies and Procedures, and restructuring activity. Mr. Lazewski also is a member of NXT Capital’s Credit and Investment Committees.
Mr. Lazewski has over 20 years of middle market leveraged lending experience, having held positions that include client relationship development and new business origination, transaction structuring and underwriting, negotiating and closing transactions, ongoing portfolio management and distressed debt evaluation and acquisition. Mr. Lazewski’s middle market lending experience also includes working at Merrill Lynch Capital and Heller Financial, as well as Golub Capital and LaSalle Bank.
Mr. Lazewski earned a Bachelor of Science in Business Administration from Valparaiso University and an MBA in Finance and Accounting from the University of Chicago Booth School of Business. He is a CFA® charterholder.






What makes private credit attractive for investors in an inflationary and rising rate environment? What is the trajectory of the rate environment and how can this be monitored? Which sectors can offer protection from high inflation by exhibiting high growth and strong cash flow? How are recessionary pressures and market dislocations impacting the private credit opportunity set?