Group 1 - The core viewpoint is that private credit investors are actively adjusting their portfolios in response to risks posed by the U.S. market due to the tariff war [1] - Portfolio managers are increasingly seeking geographic diversification to mitigate growing uncertainties from the U.S. market [1] - The impact of new tariffs on businesses is acknowledged, making highly diversified portfolios particularly important [1] Group 2 - There is optimism regarding the Australian market, which is largely insulated from tariff turmoil [1] - Nick Jacobson from Wingate Group anticipates that the Australian private credit market will at least double in the next three years [2] - Growth in the Australian market is expected to stem from corporate leveraged loans and the real estate sector, providing optimal investment opportunities for private credit investors [2] Group 3 - Managers are also looking to strengthen transaction structures by using assets as collateral [2] - There is an observed demand for stronger covenants, stricter equity scrutiny, and more asset-backed financing in turbulent environments [2]