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Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.
Private Debt Intelligence - 11/27/2023
North American PD deal value in energy and utilities sector highest in five years [wpdm_package id=’67452′] Private debt deal activity…
BDC credit quality continues to hold up
BDC credit quality held up well across different metrics in the most recent quarter. The weighted average non-accrual rate for…
Loan Stats at a Glance - 11/27/2023
Source: PitchBook LCDContact: Marina Lukatskymarina.lukatsky@pitchbook.com
60/40 Hindsight
The traditional equities and fixed-income model is under-performing the historic average. Source: Bloomberg, The Daily Shot(Past performance is no guarantee…
The New Paradigm (First of a Series)
This week we chaired Day One of SuperReturn’s Private Credit US conference in New York. It’s a measure of the…
BDC debt valuations increase in 3Q23
BDC debt valuations climbed across the board in 3Q23, with riskier debt outperforming as hopes of an economic soft landing…
LPs remain cautious on fundraising
The current environment for deal-doing in private debt appears to be strong, but there are reasons why GPs may still…
Private Debt Intelligence - 11/13/2023
Private debt is the second largest contributor to private capital fundraising [wpdm_package id=’67316′] Private debt fund managers raised $181bn in…
Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M)
(Past performance is no guarantee of future results.)
Loan Stats at a Glance - 11/13/2023
Source: Pitchbook LCDContact: Marina Lukatskymarina.lukatsky@pitchbook.com
Stat of the Week: Average Cost of a Thanksgiving Dinner for Ten in the U.S.
Midcap Momentum
Churchill’s senior debt portfolio showing higher revenues and cash flows. Source: Churchill Asset Management LLC(Past performance is no guarantee of…
The New Paradigm (Second of a Series)
Two economic dynamics are driving capital markets. First, GDP strength which, by many measures, remains steady if not buoyant. One…
No Signs of Slowing (Except Defaults)
Since Labor Day we’ve spent considerable time at conferences and with investors. Nothing focuses the mind better. And what we’ve…






The New Paradigm (Third of a Series)
The confusion around differences between public and private credit dynamics has been compounded by the rapid growth of the illiquid…