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Latest Articles
Market trends, rates, and sector insights
Private Credit at an Inflection Point: Spreads Stabilize, Defaults Rise, and Capital Bifurcates — Q3/Q4 2026 Market Intelligence
Private Credit at an Inflection Point: Spreads Stabilize, Defaults Rise, and Capital Bifurcates
Bond Capital...
Deal structures, strategies and the capital stack
Mezzanine Financing for Growth-Stage Acquisitions: Mapping Subordinated Capital to the Gap in Your Stack
The Gap Every Growth-Stage Acquirer Hits
You have found the acquisition target. The...
Private Credit Fundamentals
Unitranche Innovations: How One Loan Collapses the Entire Private Credit Stack
One Loan. One Rate. Two Very Different Risk Positions.
Walk into a bank to finance a middle-market buyout and you will leave with a stack...
Risk management, underwriting and monitoring
EBITDA Adjustments and Normalization: A Credit Underwriter’s Discipline Guide for Middle Market Lending
Underwriting & Risk Management | Credit Analysis
EBITDA Adjustments and Normalization: A Credit Underwriter's Discipline...
Market trends, rates, and sector insights
Private Credit at the Inflection Point: Spread Stabilization, Rising Defaults, and the SEC’s New Scrutiny — Q3 2026 Market & Sector Intelligence
Private Credit at the Inflection Point: Spread Stabilization, Rising Defaults, and the SEC's New Scrutiny
...
Deal structures, strategies and the capital stack
Mezzanine Financing for Growth-Stage Acquisitions: Structuring the Gap Between Senior Debt and Equity in the 2026 Capital Stack
The Capital Gap That Kills Good Deals
A founder-owned services company generating $4M in EBITDA...
Private Credit Fundamentals
Unitranche Innovations: How One Loan Replaced Two and Reshaped Middle-Market Private Credit
The Deal That Almost Didn't Close
Picture a lower-middle-market business owner trying to finance a $50 million acquisition. In 2008, that meant assembling two separate...
Stories of leverage, wealth creation and why smart owners don’t sell equity
The Founder Who Said No to the Term Sheet: How Private Credit Replaced VC Dilution and Kept 100% of the Upside
The Story: A Profitable Founder, a VC Term Sheet, and a Better Question
Note: The...
