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...
Forward for Specialty Finance
Pulse
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
The overwhelming majority of private credit's growth over the past decade has been built on sponsor-backed lending — financing leveraged...
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...
