Adam DusoCEOSecond Wind Consultants Robert DiNozziChief Growth Officer Second Wind Consultants In any distressed credit, the senior lender’s objective is straightforward: preserve collateral value, avoid unnecessary cost and litigation and maximize recovery. Out-of-court solutions are therefore almost always preferable. The...

Nearly three years after U.S. regulators first proposed sweeping changes to bank capital requirements, the Basel III Endgame rule remains unfinished. Federal Reserve Vice Chair for Supervision Michelle Bowman indicated in late 2025 that a revised proposal could emerge by...

While artificial intelligence reshapes commercial lending at every scale, the middle market’s adoption path reflects its own distinctive blend of complexity, relationship and operational discipline. Beyond the Automation Headline The conversation about artificial intelligence in credit underwriting has tended to...

As covenant-lite structures dominate large-cap transactions, the core middle market tells a fundamentally different story—one where lender protections remain robust and may be strengthening. A Tale of Two Markets The narrative around covenant erosion in private credit has become something...

The relationship between broadly syndicated loans and middle market direct lending has evolved from distinct market segments into a fluid, competitive dynamic where deal flow shifts based on which market offers better economics at any given moment. Wellington Management’s analysis...