Content hub
Explore private capital market trends, in-depth research from leading industry partners, expert interviews, live webinars, and educational videos — all in one place.
Featured Article
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.
|
July 14, 2026 
Leverage Rose Across Most Top Sectors; Spreads Tightened Except Healthcare
Leverage Widened QoQ Across the top 5 Sectors Tracked in Q4’25, Except for Business Services; Spreads Tightened for Most Except…
Software Deferrable Exposure Rising in U.S. Middle Market CLOs
Technology-software assets in deferrable asset exposure are increasing within U.S. middle market (MM) collateralized loan obligations (CLOs) under Fitch’s surveillance.
Continuation-fund-related exit count
Exits through continuation funds have become a more common exit solution in recent years…
BDC AUM climbed to a new high of US$568bn in 4Q25
The year-end 2025 BDC filing season is nearing an end, with most of the largest BDCs having published their results.
Fundraising shows signs of weakening
It’s only the first quarter, but there are indications that macro events may be taking something of a toll on…
Q1 US Leveraged Loan Issuance Poised for Sharp Year-Over-Year Decline
Q1 US Leveraged Loan Issuance Poised for Sharp Year-Over-Year Decline US leveraged loan issuance has slowed significantly in the first…
Perception is Reality
Investors bombarded with scary headlines worrying less about real private credit risks. Source: PitchBook
Middle Market Deal Terms at a Glance - March 2026
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
Average Non-Accrual Marks Improved Across Most Top Sectors
Average Marks (FMV / Par) on Non-Accrual Drawn Loans Increased for 3 of the Top 5 Sectors in Q3’25 Click…
US Private Credit Defaults Hit New Highs but Losses Remain Contained
Click here to learn more. At 9.2%, the default rate within Fitch’s privately monitored ratings (PMR) portfolio exceeded the default…
PE exit activity
Download PitchBook’s Report here. US PE exit activity is now clearly out of the woods, securing not only a second consecutive…
US primary market loan yields increase to their highest level since April 2025
The average primary market yield, assuming a three-year term to repayment on first-lien institutional term loan Bs, has widened to…
M&A Activity Provides Support to Stalling US Leveraged Loan Market
Click here to access Bloomberg’s US Leveraged Finance Chartbook The US leveraged loan market has struggled to regain momentum following…
The OG of Private Credit (First of a Series)
“Private credit is, by its nature, still an illiquid asset class.”