Tag

direct lending

3 insights

Cover showing Q2 2026 middle-market direct-lending volume of $33.6 billion, the lowest since Q2 2023, beside a stacked bar of a bank facility's $1.6 billion committed capacity plus a $1.0 billion accordion to $2.6 billion.

The Direct-Lending Slowdown Is a Buyer's Financing Window

Middle-market direct lending hit its lowest quarter since 2023 while bank and asset-based capacity expanded. Why the buyers who run a multi-source process capture the leverage.
Capital Markets & TrendsBorrower Advisory
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Proportional circles comparing direct lending today at $1.5 to $2 trillion, the broadly syndicated market at a comparable size, and a projected $3 trillion direct lending market by 2028.

Private Credit Has Never Had More Money. The Independent Owner Still Hears No.

Direct lending now rivals the syndicated market at $1.5 to $2 trillion, but the majority flows to sponsor-backed deals. Why non-sponsor owners get declined, and what closes the gap.
Capital Markets & TrendsBorrower Advisory
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Grid of 20 squares with 17 filled in Thalos navy, illustrating that direct lenders financed about 85% of US leveraged buyouts in 2024.

The Single-Lender Acquisition Is Narrowing Just as Deal Flow Returns

Private credit redemptions jumped 217% in a quarter. For acquirers leaning on one lender, the risk is no longer deal supply, it is certainty of close. Here is the defense.
Borrower AdvisoryFinancing Strategy
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