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Institutional non bank lending and the role of debt funds

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  • Kraemer-Eis, Helmut
  • Battazzi, Francesco
  • Charrier, Remi
  • Natoli, Marco
  • Squilloni, Matteo

Abstract

Against the background of the need for alternative or additional financing channels for SMEs, this paper analyses the market segment of Debt Funds. Often, the need for alternative financing mechanism and the increase of non-bank lending / bank-disintermediation is voiced – the text provides recent examples of and reasoning for this. The concept of Debt Funds is presented and the split between Diversified Funds and Selective Funds is introduced. The main chapter gives a range of examples for Debt Funds and related initiatives to enhance the (SME-) financing via non-bank sources, private initiatives as well as publicly supported initiatives – covering the two groups, mentioned before. Moreover, this chapter presents the emerging market segment of the so-called SME bonds (which forms itself the basis for SME bond funds (as well classified as Debt Funds), with examples from Germany, Italy, France, Spain, and the UK. The chapter "Debt Funds on the road" presents some statistics based on various databases (and explains their limited explanatory power)...

Suggested Citation

  • Kraemer-Eis, Helmut & Battazzi, Francesco & Charrier, Remi & Natoli, Marco & Squilloni, Matteo, 2014. "Institutional non bank lending and the role of debt funds," EIF Working Paper Series 2014/25, European Investment Fund (EIF).
    • Handle: RePEc:zbw:eifwps:201425
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    2. Kraemer-Eis, Helmut & Lang, Frank & Gvetadze, Salome, 2014. "European Small Business Finance Outlook: December 2014," EIF Working Paper Series 2014/26, European Investment Fund (EIF).
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    Cited by:

    1. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2017. "European Small Business Finance Outlook: December 2017," EIF Working Paper Series 2017/46, European Investment Fund (EIF).
    2. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2018. "European Small Business Finance Outlook: June 2018," EIF Working Paper Series 2018/50, European Investment Fund (EIF).
    3. Kraemer-Eis, Helmut & Lang, Frank & Torfs, Wouter & Gvetadze, Salome, 2016. "European Small Business Finance Outlook: June 2016," EIF Working Paper Series 2016/35, European Investment Fund (EIF).
    4. International Monetary Fund, 2015. "Ireland: Selected Issues," IMF Staff Country Reports 2015/078, International Monetary Fund.
    5. Kraemer-Eis, Helmut & Botsari, Antonia & Gvetadze, Salome & Lang, Frank & Torfs, Wouter, 2018. "European Small Business Finance Outlook: December 2018," EIF Working Paper Series 2018/53, European Investment Fund (EIF).
    6. Kraemer-Eis, Helmut & Lang, Frank & Gvetadze, Salome, 2015. "European Small Business Finance Outlook: June 2015," EIF Working Paper Series 2015/28, European Investment Fund (EIF).
    7. Lang, Frank & Signore, Simone & Gvetadze, Salome, 2016. "The role of cooperative banks and smaller institutions for the financing of SMEs and small midcaps in Europe," EIF Working Paper Series 2016/36, European Investment Fund (EIF).
    8. Kraemer-Eis, Helmut & Lang, Frank & Gvetadze, Salome, 2014. "European Small Business Finance Outlook: December 2014," EIF Working Paper Series 2014/26, European Investment Fund (EIF).
    9. Kraemer-Eis, Helmut & Lang, Frank & Torfs, Wouter & Gvetadze, Salome, 2017. "European Small Business Finance Outlook: June 2017," EIF Working Paper Series 2017/43, European Investment Fund (EIF).
    10. Kraemer-Eis, Helmut & Lang, Frank & Torfs, Wouter & Gvetadze, Salome, 2015. "European Small Business Finance Outlook: December 2015," EIF Working Paper Series 2015/32, European Investment Fund (EIF).

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