TSI Partnerevent in cooperation with Morningstar DBRS

19 May 2026

TSI Partnerevent in cooperation with Morningstar DBRS

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Die Veranstaltung
Sprache
Englisch
Termine
19. Mai 2026
14.30-20.00
Onsite

TSI Partnerevent in cooperation with Morningstar DBRS 

Venue:
DBRS Ratings GmbH
Neue Mainzer Straße 75
60311 Frankfurt am Main

Drinks reception venue:
The Ash, Mainzer Landstraße 1, 60325 Frankfurt am Main

Participation fee
The event is free for all TSI partners and Morningstar DBRS guests.

The TSI Partner Event, held in cooperation with Morningstar DBRS, will take place on 19 May 2026 and focus on the topic  “Navigating Private Credit: Structures, Risks and Market Perspectives”.

The event offers an afternoon of insightful panel discussions exploring key developments in the private credit market. Industry experts will share perspectives on market structures, risk considerations, and emerging trends shaping the future of private credit.

Target group:
Professionals working in Structured Finance, Private Credit, Asset Management, Risk Management and Treasury. The event is also aimed at lawyers, economists and analysts involved in the structuring, analysis and monitoring of private credit transactions.

It is particularly suitable for participants who wish to gain a deeper understanding of current market dynamics and exchange views with industry peers.

The event will conclude with a networking drinks reception, offering an opportunity to continue the discussion in an informal setting.

Agenda

14.30

Registration

15.00 - 15.10

Welcome and Opening Remarks
Keith Gorman, Managing Director, Morningstar DBRS
Jan-Peter Hülbert, Managing Director, TSI

15.10 - 15.55

Direct Lending: Scaling the Middle Market
2026 Outlook, Portfolio Resilience and Credit Trends

  • Moderator: Mudasar Chaudhry, Senior Vice President, Morningstar DBRS
  • Speaker: Cristina Ramirez, Vice President, Morningstar DBRS
  • Speaker: Christian Burkard, Investment Partner, Deutsche Credit 

     

15.55 - 16.40

From Subscription Lines to Structural Complexity: The Future of European Fund Finance
An overview of European fund finance market trends, with a focus on key structural features, credit risk considerations, and legal drivers

  • Moderator: Jan-Peter Hülbert, Managing Director, TSI
  • Speaker: Dr Dennis Heuer, Partner, White & Case
  • Speaker: Dr Stephan Rompf, Vice President, Morningstar DBRS
16.40 - 17.10

Break

17.10 - 17.55

Private Investment Grade Credit: Financing the Future
The Strategic Evolution of Private IG Credit: The shift from direct lending to highly complex asset-backed finance solutions 

  • Speaker: Anke Rindermann, Managing Director, Morningstar DBRS
  • David Krancenblum, Head of France for Credit & Markets, KKR Insurance in EMEA
     
17.55-18.00

Closing Remarks
Jan-Peter Hülbert, Managing Director, TSI

From 18.00

Drinks Reception

Christian
Christian Burkard
Investment Partner
DCCP Deutsche Credit GmbH
Christian Burkard is Investment Partner at DCCP. Prior to joining DCCP, Christian worked for more than 12 years in Barclays' Investment Banking division in Frankfurt, during this time he was responsible for Financial Sponsor Coverage in the DACH region and advised several corporates on C-level. In this role he led numerous Leveraged Finance and M&A transactions. Before joining Barclays, Christian worked for more than five years in GE Capital's Leveraged Finance team in Frankfurt and London and supported the opening and growth of the Frankfurt office. He started his career at DZ Bank in Frankfurt and New York, where most recently he was part of the Leveraged Finance team. Christian holds an MBA with distinction from INSEAD as well as a Bachelor of Business Administration from Frankfurt School of Finance & Management.

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Mudasar
Mudasar Chaudhry
Senior Vice Presiden, European Structured Finance Research
Morningstar DBRS
Since assuming the role in September 2021, he has directed the team responsible for research coverage of European securitised products, NPLs, Funds, and Covered Bonds. Mudasar joined Morningstar DBRS in 2011 and has extensive experience rating complex structured finance transactions across various asset classes. Prior to Morningstar DBRS, he held positions at PGIM, Bluecrest capital Management, and Fitch Ratings, focusing on European structured finance and alternative credit.

He holds a master’s degree with first-class honours in Aerospace Engineering from Queen Mary, University of London.
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Keith
Keith Gorman
Managing Director, Structured Finance
Morningstar DBRS
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Dennis
Dr. Dennis Heuer
Partner, Capital Markets – Structured Finance
White & Case LLP
Widely recognised as a leading finance and capital markets lawyer, Dennis has over two decades of experience advising domestic and international clients on a broad spectrum of complex cross-border transactions.

A partner in the Firm’s Global Capital Markets Practice, Dennis co-heads the EMEA Private Asset-Backed Credit and Structured Finance Group and is a core member of the firm-wide ESG and Financial Institutions Industry Groups. His practice spans a diverse range of sectors, with a particular focus on private credit, structured finance, fund finance, bank regulatory and securitisation. Dennis has extensive experience representing banks, private credit providers, asset managers, funds, insurance companies, debt collection companies, multinational corporates and fast growth companies in transactional and advisory mandates. His track record includes advising on securitisations, bank lending transactions, regulatory capital deals, and complex financing structures that bridge the fund finance, securitisation and corporate finance markets. Recognised for his structuring skills and ability to deliver innovative and market-leading solutions, Dennis has played a key role in the growth of private credit and the ongoing convergence of funding markets.
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Jan-Peter
Jan-Peter Hülbert
Geschäftsführer
True Sale International GmbH
Jan-Peter Hülbert ist seit Juli 2018 Geschäftsführer der True Sale International GmbH. Er bringt über 20 Jahre Erfahrung im Bank- und Kapitalmarktgeschäft mit, davon 16 Jahre in der Verbriefung auf Bankenseite. Herr Hülbert hat Kundentransaktionen verantwortet für Banken, Unternehmen und Leasinggesellschaften in den Segmenten öffentliche ABS, private Verbriefungen und ABCP. Er hält einen Abschluss als Diplom-Kaufmann der LMU München und ist Mitglied im Aufsichtsrat der STS Verification International GmbH, im Aufsichtsrat der European DataWarehouse GmbH und im Geld- und Kreditausschuss des DIHK.
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David
David Krancenblum
Head of France for Credit & Markets, Insurance & Strategic
KKR Insurance in EMEA
David Krancenblum (Paris) joined KKR in 2022, and coordinates illiquid investments and structured capital solutions from KKR Insurance in EMEA. Previously, Mr. Krancenblum served as Head of France for Credit & Markets, focusing on offering structured capital, senior and junior private debt, and capital markets solutions to corporates and financial sponsors. Prior to joining KKR, Mr. Krancenblum was in the leveraged and acquisition finance team at Morgan Stanley. Mr. Krancenblum started his career at Credit Suisse in the leveraged finance origination and restructuring team. Mr. Krancenblum holds a Master’s Degree in Management from HEC Paris.
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Cristina
Cristina Ramirez
Vice President, Sector Lead, Private Corporate Credit
Morningstar DBRS
Cristina Ramirez is Vice President and Europe Team Lead at Morningstar DBRS. She holds a Bachelor’s degree in Economics and Business Administration and a Master’s degree in Finance. Cristina began her career in London, where she spent five years working primarily with Mizuho Bank, focusing on credit and rating analysis. She brings extensive experience in financial analysis and credit risk across European markets and currently leads the European Private Credit analytical team.
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Anke
Anke Rindermann
Managing Director, Global Corporate Ratings
Morningstar DBRS
Anke is a Managing Director in the Global Corporate Ratings Team at Morningstar DBRS and manages the European team. She has been with DBRS Morningstar since July 2023. The European Corporate Ratings team covers a wide variety of issuers across Diversified Industries, Utilities, Infrastructure and Project Finance. Anke is based in Frankfurt, Germany.

Before joining DBRS Morningstar, Anke spent 16 years at Moody’s Investors Service in the European Corporate Team. Most recently, she managed a team of analysts focusing on a range of sectors including Auto OEMs and Suppliers, Real Estate, Building Materials, Airlines and Aerospace and Defense as well as Investment Holdings. In addition, she managed several cross-regional strategic projects, including drafting and updating rating methodologies, and was a regular speaker at industry conferences and other events. Before her time with Moody’s, Anke spent seven years at Commerzbank in various credit risk functions as well as two years at Deutsche Bank.

She holds a degree from Frankfurt School of Finance and Management and is a chartered Financial Risk Analysist as well as a certified Credit Rating Analyst (DVFA). Anke is fluent in English and German.
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Stephan
Dr. Stephan Rompf
Vice President, European Structured Credit Ratings
Morningstar DBRS
Stephan Rompf is a Vice President in the European Structured Finance team at Morningstar DBRS, based in Frankfurt. He covers rating projects in the European fund finance and private debt space as well as SME CLO and ABS securitisations. He joined Morningstar DBRS in 2018 and was previously the head of the Structured Finance team at Creditreform Rating with a focus on asset-based finance and institutional investor debt. Before starting his professional career, he obtained a PhD in economics and sociology at the University of Mannheim.
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