Research report

Private credit has grown in both size and breadth, prompting questions around the risks of the asset class and whether it could represent a bubble. We address those concerns in this note.

Ask an investor how they’re feeling and they’re likely to echo the wary positivity of Larry David’s famous line on “Curb Your Enthusiasm”—“prett-ay, prett-ay, prett-ay good.”

Private debt has grown from niche asset class to a heavyweight due to multiple structural shifts in capital markets—and its growth has shifted the opportunity set for both investors and borrowers.

The private U.S. middle market may serve as a diversified source of growth within investors’ portfolios.

With North American private equity (PE) AUM nearing $3.5 trillion, secondaries offer a unique entry point to the market.

There are periods when knowing many things and skillfully implementing them is the main source of alpha, but that hasn’t been the case since the financial crisis.