Promises…Promises…The Financiers of The Gilded Age
Monsieur Oscar Tschirky, the elegant, Swiss-born maître d'hôtel of Delmonico's always maintained that John “Bet a Million” Gates did not...
Forward for Specialty Finance
Pulse
MCA Payment Relief: Not Always What It Appears
The merchant cash advance relief marketplace has become increasingly crowded with firms promising lower payments, negotiated settlements and immediate cash...
TMA Leading Edge with Jenny Faubion: AI and Out of Court Options
TMA’s global community—spanning advisors, attorneys, lenders, and operators—plays a critical role in helping businesses navigate complexity, adapt to change, and...
The Warm Introduction Premium: Why Relationship-Sourced Deals Still Close at Better Terms
Private credit has grown from a niche corner of the alternative-asset landscape into one of the most actively populated segments...
When Commercial Lending Forgets the Customer, It Forgets the Relationship
In a more transactional lending market, specialty finance stands apart by understanding the business, staying steady under stress, and structuring...
TMA Leading Edge Series with Winston Mar: When Management Fails
As market volatility, tariffs and global economic pressures continue to impact businesses across industries, turnaround and restructuring professionals are increasingly...
The Unit Economics of Deal Origination: How Spread Compression Is Reshaping Middle Market Lending Platforms
The structural transformation of middle market direct lending over the past three years has been defined by a single, unrelenting...
Private Credit’s Liquidity Test: What the Redemption Cycle Reveals—and What It Doesn’t
A Headline-Driven Moment The first quarter of 2026 has delivered the most intense period of scrutiny that the private credit...
In the Mood for Take-Out: MCA Solutions for Factors That Actually Work
I’ve written extensively about MCA-related issues for lenders and borrowers over the past several years. At the recent IFA conference...
Stress, Strategy and the Bench: What the 17th Annual Kevin J. Carey Summit Revealed About the State of Credit and Restructuring
From zombie companies and MCA stacking to Chapter 15 forum shopping and AI in the courtroom, the 17th Annual Kevin...
