Real Deals | Roundtable: Day of the Debt
Originally posted by Real Deals on December 4, 2025.
An expected rally of mergers and acquisitions (M&A) failed to fully materialize in 2025, and in a competitive private equity market, it is increasingly crucial for debt finance providers to differentiate their propositions. Aude Doyen, Managing Director & Co-Head of Lincoln’s Capital Advisory Group in Europe, recently shared her insights at a Real Deals Roundtable.
As seen in Lincoln’s proprietary data, private market lenders more actively “took the keys” through lender takeovers in the past year. Aude highlighted the importance of proactive sponsor action to prevent defaults, although this trend may be obscuring some signs of distress in the market. Still, Aude sees opportunities for debt finance providers and other private market players in the quarters to come.
“We have the skillset, and there is scope to deepen our sponsor relationships and provide support for general partner clients from different angles, especially working alongside our Private Fund Advisory team,” said Aude.
Summary
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Lincoln International’s Capital Advisory Group leader shares insights into strategies for debt finance providers amid a competitive private equity market.
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I build trust with clients by putting their interests first at all times.
Aude Doyen
Managing Director & Co-Head of Capital Advisory, Europe
LondonRelated Perspectives
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By linking my experience in debt advisory and mergers and acquisitions, I look forward to delivering flexible and innovative financing solutions to make an impact that matters with long-term target clients, as Lincoln does best.
Daniele Candiani
Managing Director & Co-Head of Capital Advisory, Europe
Milan I build trust with clients by putting their interests first at all times.
Aude Doyen
Managing Director & Co-Head of Capital Advisory, Europe
London
My approach with our bankers and clients is to listen, pay attention to detail, anticipate and keep an eye on the big picture.
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