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Business of Private Credit: Safety, Not Size
Even the best credit managers have loans that go bad. What separates them from everyone else is the history and experience they bring to working these problems out.
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August 5, 2026 
1Q24 US Leveraged volume up 46% year over year; Highest quarterly total in over 2 years
US leveraged lenders completed US$347.5bn of issuance across the high yield bond and leveraged loan markets in 1Q24, a 46%…
Honey, I Shrunk the Interest Coverage Cushions
The Fed’s “higher-for-longer” has compressed leverage loan coverage ratios. Source: PitchBook | LCD(Past performance is no guarantee of future results.)
Best Practices in Private Credit (Second of a Series)
This week we acquainted ourselves with fun facts about solar eclipses. One is the fortuitousness of size and distance. If…
What is Driving Increasing Deal Sizes in Private Credit?
Direct lenders have increasingly been targeting larger companies, after previously focusing on middle market sized companies. (Fitch loosely defines larger…
The rise of quasi-distress
As fund managers become adept at heading off problems before they threaten to kill companies off, distressed strategies are changing…
Loan Stats at a Glance - 4/8/2024
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
The New Order: Leverage Finance in an Asset Management World (Third of a Series)
We want to highlight issues demonstrating almost willful ignorance of the role private credit plays in today’s asset management world.…
Is stress emerging to save Asian fundraising?
Last year was tough for GPs seeking capital to invest in Asia Pacific but distressed/opportunistic strategies were bucking the trend.…
All About Portfolios
Top three criteria investors use to select credit managers are portfolio-centric. Source: Coalition Greenwich 2023 Private Credit Market Structure Study(Past performance…
Rising Payment-in-Kind Trends in Private Credit Will Have a Mixed Impact
Interests paid-in-kind (PIK) are likely to rise among private middle-market loans in the US through both amendments to existing loans…
Private debt fund performance
Download PitchBook’s Report here. Drilling down to the major substrategies, mezzanine funds kicked into high gear with a one-year horizon return…
Daily Analytic: Survey - Unitranche spreads shift lower
Stiffer competition from the syndicated market has put pressure on direct lenders to tighten spreads on unitranche loans. According to…
Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks)
(Past performance is no guarantee of future results.)
Ron Kahn on performance of private companies
A conversation with Ron Kahn, Managing Director at Lincoln International.
Loan Stats at a Glance - 4/1/2024
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
Best Practices in Private Credit (First of a Series)
Last Thursday was opening day for MLB, a hopeful sign of spring. Catching up on some interesting 2023 statistics from…