The Unsponsored Deal Opportunity in Private Credit
The overwhelming majority of private credit's growth over the past decade has been built on sponsor-backed lending — financing leveraged...
Forward for Specialty Finance
Pulse
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,...
When Structure Becomes Strategy
In recent months, capital markets have been shaped less by headlines and more by execution. As macro uncertainty, rate pressure,...
Software Lending and the Recurring Revenue Premium
Outstanding loans by private credit funds to software-as-a-service firms increased from almost $8 billion in 2015 to over $500 billion,...
The New Era of Bank-Independent Lender Partnerships
Mitsubishi HC Capital America's Brian Rosa makes the case that the accelerating alliance between banks and independent lenders isn't a...
The Loss Rate Advantage: Why Direct Lending Continues to Outperform Public Credit Markets
The case for direct lending has always rested on a deceptively simple proposition: private credit should deliver better risk-adjusted returns...
MCA Daily Withdrawals, Collateral Erosion and the Question of Control
In most cases, not through a borrower’s negotiation alone, moving bank accounts, or other isolated tactics. Those approaches often trigger...
Covenants, Collaboration and Capital: A Deep Dive into Subordinate Debt
The landscape has undergone a shift over the last year. With lenders re-stabilizing after the post-COVID "slingshot" effect, many businesses...
