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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.
The OG of Private Credit: You Are What You Eat
In private credit, the character of your deal sourcing determines the destiny of your portfolio.
The OG of Private Credit: (Smaller) Size Matters
As we highlighted last week, the zero-rate period post-GFC allowed private equity firms to buy companies with higher leverage and sell them at higher multiples.
The OG of Private Credit: How We Got Here
According to iCapital, private credit refers to “tailored financing options – typically loans – that are directly made to strategically identified companies by non-bank lenders.
The OG of Private Credit (First of a Series)
“Private credit is, by its nature, still an illiquid asset class.”
Why Private Equity Matters (Last of a Series)
For most of its history, private equity was built for institutions – pension funds, endowments, sovereign wealth funds. Individual investors…
Why Private Equity Matters (Part Nine)
Private equity firms spend considerable time finding the right business, market, or operating model before making an investment. This is fundamental,…
Why Private Equity Matters (Part Eight)
Diversification is an important topic and a strong consideration for any portfolio. It can come in many forms. In public…
Why Private Equity Matters (Part Seven)
Private equity is often portrayed as a blunt and ruthless strategy – an industry dominated by corporate raiders that slash…
Why Private Equity Matters (Part Six)
When private equity makes the news, its typically large buyout firms. They buy mega companies, so unsurprisingly make for better…
Why Private Equity Matters (Part Five)
Modern portfolios are largely shaped around public markets, which are influenced by public sentiment as much as underlying fundamentals. However,…
Why Private Equity Matters (Part Four)
There are many faces of a leveraged buyout dollar. The private equity industry offers a robust landscape of strategies that…
Why Private Equity Matters (Part Three)
The notion of private equity as anything but constructive for shareholder value is of recent vintage. The real story of…
Why Private Equity Matters (Part Two)
Private equity as an asset class delivers strong returns to investors, often better than public market benchmarks (see Chart of…
Why Private Equity Matters (Part One)
Deal-making is poised to rebound, thanks to lower interest rates, a strong economy, and an overall favorable macro environment. So…
Guidance Counselors
On December 3rd, the OCC and FDIC announced they were withdrawing the Leveraged Lending Guidance they (with the Fed) had…















The OG of Private Credit: The Liquidity Mirage
The word “private” in private credit signifies not just “non-public,” but “non-traded.”