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Private Credit Defaults 101: Beyond the Noise
Like any good school year, this series went by fast. But as class comes to an end, there’s one theme that’s been top of mind here at The Lead: “noise.”
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October 6, 2026 
Private debt’s emerging manager problem
New GPs face a tough task to attract investor interest, but there are ways of maximising prospects. It feels somewhat…
Private Equity Now: The LP Perspective
In recent years, private equity secondaries have bloomed from a cottage industry, extending back to the 1980’s, to an essential…
US leveraged loan issuance tops US$172bn in November, pushing '24 issuance to record heights
US leveraged loan issuance exceeded US$172bn in November, notching an 18% gain over October’s US$146bn pipeline and more than tripling…
Distribution of MFN Sunset Horizons
(Past performance is no guarantee of future results.)
Competition to Pressure BDCs’ Deal Terms, Credit Performance in 2025
Click here to learn more. The competitive underwriting environment for business development companies (BDCs) will continue in 2025, with spread…
PitchBook indexes: PE funds rolling one-year horizon IRRs by size
Download PitchBook’s Report here. The one-year IRR decreased back to single digits in Q1 2024, coming in at 8.7% for the…
Private debt popularity keeps growing
Fundraising has been challenging over the last couple of years, but LPs now have the inclination and the ability to…
To Co-Invest, or Not to Co-Invest
The majority of GPs in Europe and North America offer equity co-investment programs. Source: Dechert’s 2025 Global Private Equity Outlook.…
Private Equity Now: The GP Perspective
Challenging financing conditions and macroeconomic disruptions have ushered in a period of lackluster M&A activity the last few years. Sellers…
Management fee rates vary by private debt strategy
Read more in Preqin’s ‘Strategy in Focus: Challenges to Income Generation’ Interest rate cuts across major economies have slowed the…
Covenant Trends - 12/2/2024
Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.)
Business Development Companies Outlook 2025
Click here to download report. Join Fitch for the upcoming Outlook panel: Private Corporate Credit, What to Expect in 2025.…
Healthcare, general manufacturing and services sectors see most loans added to non-accrual status in 3Q24
A total of US$980m of BDC loans were added to non-accrual status in 3Q24, down from US$2.1bn in the prior…
Bigger Brothers
Since 2020 the share of GPs raising larger funds has been growing. Source: PitchBook(Past performance is no guarantee of future…
Private Equity Now – Impact on Fundraising (LP Perspective)
We resume our discussion of the private equity liquidity crunch and its impact on fundraising, this time from the LP’s…
Private Equity Now – The GP/LP Relationship
In this series we have explored the challenges GPs face today across the full private equity lifecycle – fundraising, deployment…