Rowan predicts Europe will become the strongest investment grade private market on a percentage basis.
“Europe is going to be on a percentage basis, in our opinion, the strongest investment grade private market in the world.”
Rowan argues European regulators told banks to do less lending but forgot to enable investor alternatives, unlike the US.
“Everywhere in the world as I suggested, regulators have two choices as to where debt capital comes from, the banking system or the investor marketplace. Everywhere they've told the banks to do less.”