The New Order: Leverage Finance in an Asset Management World (Second of a Series)
The battle for buyouts is over: privates have won. Private credit fundraising has changed that narrative for good.
Increasingly, leading private credit managers with capacity to speak comfortably for $1 billion or more are committing to financings with the ability to hold the entire loan among controlled funds…
(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)
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Latest news
US Private Credit Transparency Highlights Uneven BDC Performance
Credit performance across business development company (BDC) portfolios remains uneven, although reported losses and non-accruals were broadly stable quarter over quarter, according to Fitch Ratings’ Private Credit Transparency Monitor for 2Q26.
Density of TVPI at 10 years after inception by fund size
Marquee managers seem to be victims of their own success. Strong performance brings in more capital, and the desire to grow AUM and please public shareholders inevitably leads to returns clustered around the market average.