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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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    The OG of Private Credit: The Liquidity Mirage

    The word “private” in private credit signifies not just “non-public,” but “non-traded.”

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    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.

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    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.

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    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.

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    The OG of Private Credit (First of a Series)

    “Private credit is, by its nature, still an illiquid asset class.”

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    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…

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    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,…

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    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…

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    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…

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    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…

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    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,…

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    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…

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    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…

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    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…

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    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…

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    Guidance Counselors

    On December 3rd, the OCC and FDIC announced they were withdrawing the Leveraged Lending Guidance they (with the Fed) had…

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