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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.
US Leveraged Loan Issuance Tapers Off in November
November’s $53.6b of US institutional leveraged loan issuance was down $9.7b, or 15.3%, from the previous month’s $63.3b, marking a…
Middle Market Deal Terms at a Glance - November 2025
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
The record setting continues as BDC AUM reaches US$534bn
Investors continue to allocate more capital to BDCs and in turn the upward growth trajectory shows no sign of slowing,…
Average Free-and-Clear Cap (× Pro Forma Adjusted EBITDA)
(Past performance is no guarantee of future results.)
Private capital dry powder ($B)
Download PitchBook’s Report here. Enough capital was raised to more than compensate for the capital calls issued thus far in 2025 to…
The rise of secondaries
Our Perspectives 2026 survey confirms that secondaries are growing in investor popularity. Secondaries have quickly moved from the periphery of…
Prime Cut
A low probability just weeks ago, chances for a 25 bp cut now seem likely. Source: The Daily Shot
Leveraged Loan Launches Ramp Up in November
Click here to access Bloomberg’s US Leveraged Finance Chartbook
High-yield bond market roars in September with all-time high volumes
High-yield (HY) bond issuance in September rose to the highest volume on record, according to Debtwire data. The USD 55bn issued…
Percentage of First Lien Loans with Affected Lender Voting Protection
(Past performance is no guarantee of future results.)
Private debt nowcast versus reported return
Download PitchBook’s Report here. The Private Debt Barometer remains stable and near neutral with a score of 54, producing a nowcast…
US syndicated LBO loan volume has reached US$84bn YTD; Additional US$25bn in pipeline
US BSL loan volume backing private equity sponsored activity totaled US$969bn so far this year.
North America consolidates fundraising dominance
We reveal some of the preliminary findings from our PDI 200 ranking of private credit’s most successful fundraisers. Through the…

2026 Outlook: Setting the Table
A conversation this week between business TV anchors included the following half-joking observation: “Credit managers are saying, ‘Our 2026 outlook…