As investors look to broaden their credit exposure beyond the U.S., European liquid credit is emerging as a compelling option. While Europe may lack the market flashiness of the U.S., its credit landscape offers conservatively managed issuers, a stable policy backdrop, and a growing opportunity set. Importantly, European structures tend to limit creditor-on-creditor risk, adding a layer of protection for lenders. Amid global uncertainty, the region presents an appealing source of diversification and risk-adjusted yield if you pick the right credits.