manus: coming up, dani burger talks to david hirschman.sits down live at the private equity conference. this is bloomberg. ♪ manus: it's a tumultuous ride for private equity in 2022. driven by geopolitics and economic uncertainty. so what is on the roadmap 2023? europe's largest private equity conference, dani burger is there. let's get straight to it. dani: is not just a who a private -- who's who of private equity, we have david hirschman, head of direct lending, thanks for joining us this morning. the conversation that manus and tom have been having over the past few days is hoped that europe's economy is brightening. we've had upgrades, germany is no longer seeing a contraction. economists think the european economy can avoid a recession. is there any reason to be more optimistic this year? >> yes. clearly there is still a lot of uncertainty and questions about the economic outlook for 2023. but there are reasons to be optimistic in the sense that the fear of a europewide recession in 2023 is mitigated by some of the positive news and