In conversations with dozens of institutional investors over the past several months, consistent themes recur. First, there’s the sense of continually being bombarded by unexpected bad news rocking markets. Then having few clues before each Fed meeting what the central bank will do with rates. Finally, there’s the worry that too-high rates will send the…

As we continue our series examining the effects of higher interest rates and a potential recession on private credit, we also now need to throw in the impact of recent bank failures. It’s clear all sorts of economic and market indicators – the Treasury curve, Treasury spreads, stock prices, to name a few – are…

Our friends at Lincoln International produce a superb report on private market insights from their valuations and opinions group. Derived from their database of hundreds of borrowers as part of their quarterly analyses for managers’ portfolio valuations, this data provides helpful guidance on a host of issues such as loan prices, purchase price multiples, and…