Asset-based lenders spent the week writing borrowing bases rather than pricing grids. On September 1, Smart Sand amended its senior secured asset-based credit agreement to lift revolving commitments from $30 million to $50 million, with First-Citizens Bank & Trust Company as agent, issuing bank and sole lender, extending maturity to September 1,...
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In an era defined by rapid recalibration, this issue dives deep into the 2026 middle market, examining how asset-based lending has evolved into a foundational liquidity engine as private credit navigates a $1.2 trillion maturity wall and shifting deal structures. At the heart of this edition, we celebrate our 2026 Legends & Leaders honorees — the Icons whose storied careers have defined the industry, the disciplined Sentinels and the deal-making Rainmakers, as well as the visionary Innovators and NextGen stars engineering what comes next. Through expert features on market pressures and exclusive roundtable discussions on the intersection of technology and relationship-based lending, we highlight the conviction and resilience of the professionals shaping the next chapter of global capital.
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