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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 
North American Leveraged Finance Outlook 2026
Click here to download report. Fitch Ratings’ 2026 sector outlook for North American Leveraged Finance is neutral, reflecting broadly steady…
Sponsors Tap Leveraged Loan Market for Dividend Payouts at Record Pace
With just two weeks before the start of the new year, dividend issuance has reached an all-time high in the…
Primary market cools down, dividend recaps on the rise
Institutional leveraged loan issuance dropped to USD 55bn in October, down 42% from USD 96bn in September. This decline followed a…
Percentage of Loans with MFN Carveouts
(Past performance is no guarantee of future results.)
PE take-private deal activity
Download PitchBook’s Report here. Middle-market take-private activity dwindled in Q3, with PE buyers underwriting just four announced or completed deals under $1 billion…
US primary market loan yields tighten in December
The average primary market yield, assuming a 3-year term to repayment on first-lien institutional term loan Bs, decreased 26bp to…
The pros and cons of evergreen funds
Liquidity has become highly prized in private markets, but a traditionally illiquid asset class such as private credit cannot easily…
Premium Outlet
The private credit yield advantage over BSL widens as single-B spreads shrink. Source: KBRA DLD Research, PitchBook LCD
US Life Insurer Investment Risk Rising from Private Letter Ratings
Click here to learn more. Join Fitch for the upcoming Outlook panel: 2026 Leveraged Finance Credit Outlook Webinar Signs of…
US Leveraged Loans Return 4.86% Through November
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.35% in November, bringing its year-to-date return to 4.86%. Average secondary…
Share of funds larger than predecessor: top 10% of funds by size
Download PitchBook’s Report here. For this analysis, we broke apart the largest 10% of funds raised each year from the remaining…
Warner Bids Drive Record US BSL Bridge Loans
Dueling bridge loans backing Netflix Inc. and Paramount bids for Warner Bros Discovery largest on record for US BSL market…
Aaron Sack on the evolving middle market private equity landscape
A conversation with Aaron Sack, Head of Morgan Stanley Capital Partners.
Easing Down
Defaults for the overall leveraged loan market are at lowest point since 2023. Source: The Daily Shot, PitchBook/LCD, Morningstar LSTA US…
2026 Outlook: Dress for Success
The surprise of 2025’s post-Liberation Day risk-on dynamic across markets has established a pattern we expect to continue well into…
2026 Outlook: Pick of the Litter
With last Thursday’s Fed rate cut, the benchmark is down 200 bps from its peak in 2023. That’s the simple…