May 27, 2021 Yield-starved investors have fuelled the private debt market to a market cap of more than $1tn in recent years according to data from EY, amid traditional banks stepping away from the sector in the wake of the global financial crash. The junior debt subsegment remains a highly risky proposition, however, despite wider acceptance among investors. Penfund senior partner Richard Bradlow explained to AltAssets reporter Emily Lai how the firm is succeeding in the sector while avoiding its many pitfalls.