No question future growth will be off big-time; just how bad, and for how long, is unknown.

The average bid for the most liquid leverage loans cratered as the effects of the coronavirus have taken hold.

The VIX index of volatility hit a post-recession high in the 40’s this week amid coronavirus concerns.

Senior direct loans in BDCs have maintained a steady 10% yield, better than high-yield bonds.

Middle market mezzanine activity slumped last year, but has maintained a steady pace since 2013.

Middle market mezzanine activity slumped last year, but has maintained a steady pace since 2013.

Over the decade, middle market and liquid loan yields have maintained their relative values within a band.

Overall loan valuations have a natural ceiling, with secondary prices more susceptible to downward moves from par.

Of the $6.7 trillion of private capital assets under management in the US, only $800 billion is private credit.

Middle market syndicated loans are increasingly led by direct lenders, taking share from banks.