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...
Forward for Specialty Finance
Pulse
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
With private credit spreads compressing toward 500 basis points in the upper middle market, origination efficiency has become the margin...
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...
The Unsponsored Deal Opportunity in Private Credit
Family-owned, founder-led and non-PE-backed businesses represent the largest underpenetrated segment in middle market lending — and the economics favor lenders...
On the Leading Edge: Restructuring Goals Lead the Process
In the first installment of a new 10-part interview series highlighting the voices shaping the restructuring industry, TMA member Sari...
On the Leading Edge: Turnaround and Restructuring Now
Dive into the pulse of the market with the first installment of a new 10-part video series by TMA, in association...
Lender on Lender: Inside the Legal Arms Race Reshaping Liability Management
Octus covenant experts Julian Bulaon and Melissa Kelley argue that while the Fifth Circuit's Serta decision reshaped the LME playbook,...
