Private Credit Myths: Introduction
A Dartmouth College professor has found that middle age is even more depressing than we thought. But things start looking up pretty quickly after that.
In a recently published study, David Blanchflower found unhappiness is a U-shaped curve, bottoming out when people are 47.2 years old.
But after that, people start feeling better. By the time they hit their 60’s, they’re as chipper as they were in their 20’s. Or maybe they just forget how miserable they are.
Investor happiness is a topic we’re studying: How do investors feel today about #PrivateCredit, and has that changed over time?
The economic story has certainly changed. Worries about a recession have been , replaced by strong corporate earnings and public equity indices at record highs…
▶︎ Read Jan 20 2020 newsletter: here
▶︎ Chart of the Week: here
Latest news
Top 50 BDCs Accounted for 75% of Nonaccrual Loan Cost in Q2’26
The 50 largest BDCs, on the basis of total debt investments as of the second quarter of 2026, accounted for 75% of the total aggregate reported value of nonaccrual debt at cost and fair value.
US private debt AUM ($B) by channel
In 2025 and the early part of 2026, the retail channel added AUM to the asset class at a much faster rate than institutional investors in both regions, with growth rates of 43.7% globally, 41.4% in the US, and 73. 1% in Europe through the beginning of 2026 compared with year-end 2024 figures.
