Experienced private credit managers build all-weather playbooks designed to make it through any business cycle or headline risk. It’s critical for having a successful track record of low defaults and losses because middle market loans don’t trade the way broadly syndicated loans or high-yield bonds do. Even with resilient companies in defensive industries, once you book it, you own it.
So, what happens when one of these ground-level deals runs into trouble? Less-cyclical sectors give you more time to react, but stuff still happens. And as we’ll discuss in later episodes, private equity ownership provides helpful oversight and professional management, but the higher leverage in buyout financings leaves less room for mistakes...
Quote of the Week
"We focus on industries that provide critical services people and communities rely on to improve their daily lives.” - Bradford Rossi, Evercore.
Featuring Charts
Chart of the Week: Weathering the Storm
Service-oriented companies typically hold up through any forecast. Source: Cliffwater Direct Lending Index.
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Chart of the Week: Lessons Learned
Experience is a tough teacher, but the best managers pass the test. Source: Cliffwater Direct Lending Index.
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Chart of the Week: More Than Meets the Eye
The sectors you pick determine everything that follows. Source: Cliffwater Direct Lending Index
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Chart of the Week: Closer Than You Think
Turns out, the marks agree more often than not. Source: KBRA
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Chart of the Week: The Clear Choice
Transparency and track records matter most to private credit investors. Source: Coalition Greenwich, Private Credit Market Structure Survey
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Chart of the Week: Success, Not Overnight
Private credit’s growth story, over a decade old, is still evolving. Source: Preqin.
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Octus: Private Credit & Deal Origination Insights – 7/6/2026
Private Equity Activity in European Lending Read more and request the report HERE…. Subscribe to Read MoreAlready a member? Log in here...
Middle Market & Private Credit – 7/6/2026
Credit Journal-Private Credit Click here to download report. Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary. This edition explores the growing world of private credit, including non-bank lending across business development companies…. Subscribe to Read MoreAlready a member? Log in here...
The Pulse of Private Equity – 7/6/2026
Share of PE middle-market exit value by sector Download PitchBook’s Report here. Sector composition tilted hard toward B2B in Q1. B2B accounted for 52.9% of middle-market exit value, up from 38.2% in full-year 2025… Subscribe to Read MoreAlready a member? Log in here...
Leveraged Loan Insight & Analysis – 7/6/2026
US syndicated loan issuance backing M&A purposes reached US$255.3bn during 1H26, driven primarily by IG volume US syndicated loan issuance backing M&A activity totaled US$255.3bn during the first six months of the year, with the majority of volume coming from investment grade activity…. Subscribe to Read MoreAlready a member? Log in here...
Bloomberg: Leveraged Lending Insights – 7/6/2026
Investors Price in Expectations for Potential Future Rate Hikes The CME Term SOFR six-month rate reached a recent high of 3.884% on June 23, representing its widest premium over one-month Term SOFR this year at 23.5 basis points. The move suggests that investors have increasingly priced in the possibility of a Federal Funds Rate increase…
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Beginning in July 2022 The Lead Left published a series of articles on credit market. This report consolidates those articles.
Cov-lite trends Inflation & rising interest rates – LIBOR to SOFR transition Mega-tranche uni trend ESG takes center stage Login to view interactive report and download PDF version. … Subscribe to Read MoreAlready a member? Log in here Related posts: 2H 2021 Midyear Outlook Report State of the Capital Markets – Fourth Quarter 2016 Review and
Beginning in September 2021 The Lead Left published a series of articles on supply chain. This report consolidates those articles.
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