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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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August 12, 2026 
Software, consumer-related direct lending deals fell in H1'26
The software and technology sector, the second-most-active sector in 2025 at 17% of total deal activity, slid to fifth place in the first half of 2026.
Private credit, AI, and the Fed: Mickey Levy's outlook for the rest of 2026
A conversation with Mickey Levy, Visiting Fellow at the Hoover Institution at Stanford University.
BDC redemption requests remain elevated but show some signs of stabilization*
Looking at the 12 largest BDCs that offer investors the ability to redeem shares on a quarterly basis, redemption requests…
Spread premium tightened slightly in Q2'26
One bright spot for lenders in Q2 was that average spreads edged higher for the second straight quarter.
U.S. private credit default rate reaches new high in 2Q26
Fitch Ratings’ U.S. Private Credit Default Rate (PCDR) rose to a new high in 2Q26, according to a new report.
More than 70% of public BDCs now trade below 0.80x NAV
BDC valuations remain under pressure as investors have become more selective toward private credit this year. Concerns over AI-related risks…
Private pensions and insurers top the commitment charts
Our Investor Report delves into the extent of commitments made to private credit by different institutions. In last month’s column,…
Middle market debt held by BDCs vs High yield vs Treasury yields
The blue line represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 12.3% as…
Private credit - Signals, concerns, and manager selection
A conversation with Sonali Basak, Chief Investment Strategist at iCapital.
LMM credits earned a 46.5 bps spread premium in Q2'26
Lower middle-market lenders held their risk/return edge over larger deals in the second quarter.
Fitch Ratings completes peer review of 13 US BDCs
Fitch Ratings has completed a peer review of 13 U.S. business development companies (BDCs).
Sponsored MM leverage falls to its lowest level since 1Q23
Total leverage on sponsored middle market transactions declined to 4.40x in 2Q26 from 4.51x in 1Q26, reaching its lowest level…
Deals and refinancing offset market shocks as LevFin issuance tops 2025 levels
Leveraged finance issuance has remained resilient despite technology-sector volatility and geopolitical turmoil. Combined leveraged loan and high-yield bond volume reached…
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.