M&A Snapshot by Total Debt Quantum

octus
Octus|February 11, 2026
Content hub / Article / Octus / M&A Snapshot by Total Debt Quantum
Download

Share

Click here to access to the full report.

Click here to read the full 2026 outlook.

While the much-anticipated surge in M&A activity still has yet to materialize, the latter part of 2025 provided some encouraging signs for a 2026 rebound. After declining in the first two quarters of 2025, Octus data shows that the number of direct lending deals backing M&A activity was up 17% and 19% quarter over quarter in the third and fourth quarters of 2025, respectively. At 368 deals, deals backing M&A accounted for 57% of the total number of deals in the fourth quarter, with the M&A contribution to total deal activity increasing across all deal sizes.

Contact Kim Giancaspro
Download

Share

Making sense of private credit defaults

Webinar

Making sense of private credit defaults

What does private credit default data really tell us? Join our exclusive webinar featuring experts from KBRA, Moody's, Fitch Ratings, and S&P Global to find out.
Register
Credit Journal-Private Credit

Report

Credit Journal-Private Credit

Fitch Ratings’ latest Credit Journal series is a subject-specific, curated compilation of in-depth research and commentary. This edition explores the growing world of private credit, including non-bank lending across business development companies.
Download
PitchBook's US PE Middle Market Report

Report

PitchBook's US PE Middle Market Report

The middle market is off to its best start to a year since 2021, but its share of PE keeps slipping.
Download
Private Debt Investor New York Forum

September 15-16, Hudson Yards, New York

Private Debt Investor New York Forum

Bringing together the investors, managers and advisers shaping the next phase of the market — 200+ allocators and $10.6 trillion of LP capital expected. Benchmark strategies, hear from leading LPs, and cut through market noise over two unmissable days.
Learn more

Latest news

See all stories
    Article | Chart of the Week

    Concentrated Effort

    July 22, 2026

    The upper middle market tends to have clear favorite. Source: KBRA DLD Research

    Read More
    Article | Commentary

    Business of Private Credit: Sectors and SIC Codes

    July 22, 2026

    We’ve spent the last few weeks covering the businesses of the core middle market. Does that same discipline hold when you move up market?

    Read More
    Article | Debtwire

    Middle market debt held by BDCs vs High yield vs Treasury yields

    July 22, 2026

    The blue line represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 12%. The…

    Read More
See all stories