Posts by THE LEAD
The OG of Private Credit: Welcome to the Platinum Era™
”This is great for us.” That’s how one private credit manager summarized the cumulative impact of noise around the asset class.
Read MoreMiddle Market Deal Terms at a Glance – May 2026
Open for Business
When public credit markets close, private credit absorbs the shock.
Read MoreThe OG of Private Credit: The Steadi-Cam of Capital Markets
“We are late in the credit cycle.” What is often a throw-away line preceding some dire market prediction, should be questioned.
Read MoreThe OG of Private Credit: Conjuring a Crisis
According to Merriam-Webster, apophenia, or mistaken pattern recognition, is “the tendency to perceive a connection or meaningful pattern between unrelated or random things.”
Read MoreSetting Expectations
Despite the headlines, direct lending makes up a much smaller share of household and business debt than mortgages did at the height of the GFC.
Read MoreThe OG of Private Credit: The Dot Calm
For over a decade, software has been the darling of investors. The reasons were evident long before the pandemic made the sector impossible to ignore.
Read MoreThe Bigger Picture
Software became less of a sector and more of a defining strategy — particularly among larger funds.
Read MoreThe OG of Private Credit: Par for the Course
What is a loan worth? At its core, a loan’s value is driven by two forces: credit risk (the likelihood the borrower repays) and market risk…
Read MoreValue Proposition
Despite the noise, ~89% of the KBRA universe is currently marked above 95 — a sign of valuation and credit…
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