Unconquered Territory

THE LEAD|August 12, 2026

Content hub / Article / Chart of the Week / Unconquered Territory

With most of the map still unexplored, there’s room for a sequel.

Source: PitchBook, World Federation of Exchanges database, as of Jun. 2025

Liquid credit Private equity

Podcast

Business development companies and the rise of balance sheet financing vehicles

Fitch's Deb Murnin and Chelsea Richardson discuss the growing use of off-balance-sheet JVs and finance companies among BDCs, exploring the drivers, leverage impacts, portfolio risk profiles, and potential rating implications for Fitch-rated BDCs.

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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.

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US Private Credit League Tables H1'26

The definitive rankings covering private credit activity in H1'26.

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PitchBook's Q2 2026 US PE Breakdown

Software freezes and energy powers on as US PE deal value falls 38% in Q2 2026.

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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.

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