Leverage Limits: Stress-Testing Middle Market Debt Capacity in a Volatile 2025 Economy
The U.S. middle market is awash in private credit, fueling dealmaking at a breakneck pace as 2025 unfolds. With economic...
Forward for Specialty Finance
2025 Private Credit and Private Equity
The $35,000 KPI: Why CAC Is the Hidden Lever of Growth for Middle Market Dealmakers
The $35,000 KPI: Why CAC Is the Hidden Lever of Growth for Middle Market Dealmakers Introduction: CAC as the Unseen...
Operational Value Creation: The Collaboration Between PE Operating Partners and Lender Monitoring Teams
Two groups that once viewed each other with often adversarial mindsets—PE operating partners and lender monitoring teams—are increasingly finding common...
The Convergence of ABL and Private Credit: A New Frontier for Middle Market Liquidity in 2025
The U.S. middle market is witnessing a transformative convergence: asset-based lending (ABL) and private credit are merging to create hybrid...
The Migration of Direct Lending Down-market: How Sub-$50M EBITDA Companies Are Accessing Private Credit
In the wake of a historic period of bank retrenchment, a financing revolution is taking place that's reshaping how smaller...
The Non-Bank Wave: How Non-Bank Lenders Are Redefining Middle Market Capital Structures in 2025
Non-bank lenders---independent finance companies and private credit funds---are surging past traditional banks, wielding flexible financing tools to reshape capital structures...
Navigating the Confluence: Asset-Based Lending’s Strategic Role in the Evolving Private Credit Landscape
The private credit market's remarkable ascent to $2.1 trillion in global assets under management has fundamentally reshaped corporate finance, yet...
