The PIK Divide: Separating Structural Flexibility from Shadow Distress in Private Credit
As of the first quarter of 2025, 11 percent of debt investments tracked by Lincoln International carried some form of...
As of the first quarter of 2025, 11 percent of debt investments tracked by Lincoln International carried some form of...
Through the first eleven months of 2025, PE-backed companies issued $70.2 billion in leveraged loans earmarked for dividend recapitalizations —...
Nearly three years after U.S. regulators first proposed sweeping changes to bank capital requirements, the Basel III Endgame rule remains...
While artificial intelligence reshapes commercial lending at every scale, the middle market’s adoption path reflects its own distinctive blend of...
As covenant-lite structures dominate large-cap transactions, the core middle market tells a fundamentally different story—one where lender protections remain robust...
The relationship between the broadly syndicated loan market and private credit direct lending has shifted from parallel tracks into something...
Something is shifting in the competitive geography of private credit that has less to do with interest rates or regulation...
Two groups that once viewed each other with adversarial mindsets —private equity operating partners and lender monitoring teams — are...
Healthcare private equity delivered a record performance in 2025, with disclosed deal value exceeding an estimated $191 billion — surpassing...
Private equity funds typically rely on three main levers to generate value in portfolio companies: business growth, operational profitability and...
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