Research| Education | Advice
Sascha Steffen is the DWS Senior Chair in Finance and Professor of Finance at the Frankfurt School of Finance & Management. His work focuses on private credit and nonbank financial intermediation, combining rigorous research with policy-relevant insight for Europe’s financial system.
Talks about: Private Credit & Nonbank Finance · Financial Intermediation · Banks & Capital Markets · AI-enabled measurement of opaque financial markets
Annual Conference 2026: Financing European Sovereignty
Annual Conference 2026: Financing European Sovereignty
Financing Europe’s Sovereignty.
The 3rd Annual CfET Conference brought together leading investors, corporates, and policymakers to mobilize capital for Europe’s defence and energy resilience—moving decisively from ambition to execution. And we launched the CfET “Transformation Investment Compass”.
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Regulators are stress-testing whether private credit will infect the banking system. SEC filings from the three largest non-traded BDCs show the opposite: banks are being repaid, not exposed. The $13.4 billion in new debt that funded $8.8 billion in redemptions sits with CLO investors, bondholders, and insurers, not on bank balance sheets. The risk did not disappear. It moved to where nobody is looking.