Chart of the Week
Private Credit Doubles
Direct lending and BDCs expected to lead the growth of private credit. Source: Fitch Ratings
Read MorePremium Outlet
The private credit yield advantage over BSL widens as single-B spreads shrink. Source: KBRA DLD Research, PitchBook LCD
Read MoreEasing Down
Defaults for the overall leveraged loan market are at lowest point since 2023. Source: The Daily Shot, PitchBook/LCD, Morningstar LSTA US…
Read MorePrime Cut
A low probability just weeks ago, chances for a 25 bp cut now seem likely. Source: The Daily Shot
Read MoreLower for Longer
Direct lending defaults lead credit categories in low defaults, though headed higher. Source: KBRA DLD Default Research
Read MoreHigher for Longer
Larger LBO financings in direct lending are sporting increasingly higher leverage. Source: KBRA DLD Research, 3-month rolling averages
Read MoreGone Fishing
On November 5th, the 2025 government shutdown became the longest in US history. Source: The Daily Shot
Read MoreEquity and the Emirates
UAE’s shift from oil-centric to a broader industrial economy will propel PE investments. Source: imarc
Read MoreAuto Correct
The value of First Brand loans was close to par – until it wasn’t. Source: Bloomberg, S&P Capital IQ, iCapital Investment…
Read MoreMENA Wealth
Of the top ten largest sovereign wealth funds in the world, four are Middle Eastern. Source: Bloomberg
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