Commentary
Beyond The Mark
How are direct lending loan values calculated? We introduced the topic in our “Par for the Course” installment last month.…
Read MoreLet’s Be Clear
“Investors need to understand that private markets don’t have the same degree of transparency as public markets.”
Read MoreThe OG of Private Credit: Welcome to the Platinum Era™
”This is great for us.” That’s how one private credit manager summarized the cumulative impact of noise around the asset class.
Read MoreThe OG of Private Credit: The Steadi-Cam of Capital Markets
“We are late in the credit cycle.” What is often a throw-away line preceding some dire market prediction, should be questioned.
Read MoreThe OG of Private Credit: Conjuring a Crisis
According to Merriam-Webster, apophenia, or mistaken pattern recognition, is “the tendency to perceive a connection or meaningful pattern between unrelated or random things.”
Read MoreThe OG of Private Credit: The Dot Calm
For over a decade, software has been the darling of investors. The reasons were evident long before the pandemic made the sector impossible to ignore.
Read MoreThe OG of Private Credit: Par for the Course
What is a loan worth? At its core, a loan’s value is driven by two forces: credit risk (the likelihood the borrower repays) and market risk…
Read MoreThe OG of Private Credit: By Default
Beyond structural pressures, liquidity mismatches, and conflation with large cap strategies, the most fundamental question for any credit investor: What is the actual risk of losing money?
Read MoreThe OG of Private Credit: The Liquidity Mirage
The word “private” in private credit signifies not just “non-public,” but “non-traded.”
Read MoreThe OG of Private Credit: You Are What You Eat
In private credit, the character of your deal sourcing determines the destiny of your portfolio.
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