Commentary
Letter from Kuala Lumpur (First of Two Parts)
“Micro, small, and medium-sized enterprises contribute almost 40% of Malaysia’s GDP and almost 50% of its national work force, yet…
Read MoreLetter from Down Under (Second of Two Parts)
“Manager performance is the beta of private credit. The alpha is client support. Transparency and timeliness of information is critical,…
Read MoreLetter from Down Under (First of Two Parts)
“When my 2-year-old opened up her toy chest, things tumbled out. She’s 15 now, so it’s a well-organized make-up box.…
Read MoreLetter from the Persian Gulf
It had been a while since our last MENA visit, so on a recent trip there with our teams, clients…
Read MorePrivate Credit in a Post-Rate World (Last of a Series)
The notion of a post-rate world is arguable, as anyone in the capital markets over the past two decades would…
Read MorePrivate Credit in a Post-Rate World (Fourth of a Series)
The proponents and beneficiaries of private capital have long recognized its virtue of being less correlated with headline risk than…
Read MorePrivate Credit in a Post-Rate World (Third of a Series)
As we’ve noted, the banks and private credit managers occupy different places in the corporate finance ecosystem. That’s not to…
Read MorePrivate Credit in a Post-Rate World (Second of a Series)
One of the frequent observations of private credit, usually couched as a complaint, is how many competitors are crowding into…
Read MorePrivate Credit in a Post-Rate World (First of a Series)
When you’re successful, everyone wants a piece of you. That’s the challenge private credit faces today. Its grown from a…
Read MoreHigh Five – 2025 Outlook (Last of a Series)
This week we conclude our series on the private capital outlook for the year ahead with our fifth theme: “A…
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