Slow as it Goes

Quarterly direct lending deals peaked 2Q 2024, slowed since. Source: PitchBook LCD, US data through Sept. 16, 2025.

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Where’s the Beef?

A PitchBook survey showed private credit participants most worried about finding new deals. Source:  PitchBook/LCD, data through Sept. 16, 2025

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Tariff Drag

Growth forecasts for this year and next are well below last December’s estimates. Source:  Oxford Economics/Haver Analytics

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Loans Unleashed

July set record monthly leveraged loan volume; eight of top ten highest in last two years. Source: PitchBook, Bloomberg

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Exit Ramp

The number of PE exits slumped 1Q after last year’s steady improvement.  Source: Preqin Pro

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