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Business of Private Credit: Coming Home

Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.

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    Business of Private Credit: Coming Home

    Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.

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    Business of Private Credit: Safety, Not Size

    Even the best credit managers have loans that go bad. What separates them from everyone else is the history and experience they bring to working these problems out.

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    Business of Private Credit: Playing to Your Strengths

    “Show me a great credit, and I’ll show you a great sponsor behind it.”

    For this series, we’ve focused on how core middle market lenders underwrite a borrower.

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    Business of Private Credit: Sectors and SIC Codes

    We’ve spent the last few weeks covering the businesses of the core middle market. Does that same discipline hold when you move up market?

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    Business of Private Credit: Claude Says

    Even chatbots know AI won’t have a one-size-fits-all impact on the middle market. Yet for the last year or so, the market has treated AI disruption as a storm cloud hanging over every private credit portfolio.

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    Business of Private Credit: Rain or Shine

    Experienced private credit managers build all-weather playbooks designed to make it through any business cycle or headline risk.

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    The Business of Private Credit: History 101

    Last week we kicked off our special series on middle market industries with an overview of why they should matter for private credit investors. This week we provide some historic context.

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    The Business of Private Credit (First of a Series)

    What’s so special about the middle market? In a world where every conversation seems to revolve around AI, mega-software M&A, and data center infrastructure…

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    Beyond The Mark

    How are direct lending loan values calculated? We introduced the topic in our “Par for the Course” installment last month.…

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    Let’s Be Clear

    “Investors need to understand that private markets don’t have the same degree of transparency as public markets.”

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    The OG of Private Credit: Welcome to the Platinum Era™

    ”This is great for us.” That’s how one private credit manager summarized the cumulative impact of noise around the asset class.

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    The OG of Private Credit: The Steadi-Cam of Capital Markets

    “We are late in the credit cycle.”  What is often a throw-away line preceding some dire market prediction, should be questioned.

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    The OG of Private Credit: Conjuring a Crisis

    According to Merriam-Webster, apophenia, or mistaken pattern recognition, is “the tendency to perceive a connection or meaningful pattern between unrelated or random things.”

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    The OG of Private Credit: The Dot Calm

    For over a decade, software has been the darling of investors. The reasons were evident long before the pandemic made the sector impossible to ignore.

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    The OG of Private Credit: Par for the Course

    What is a loan worth? At its core, a loan’s value is driven by two forces: credit risk (the likelihood the borrower repays) and market risk…

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    The OG of Private Credit: By Default

    Beyond structural pressures, liquidity mismatches, and conflation with large cap strategies, the most fundamental question for any credit investor: What is the actual risk of losing money?

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