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In private credit, smaller is sometimes better

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Manage episode 475647578 series 3446609
Content provided by 9fin Limited. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by 9fin Limited or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

On why some lower middle market lending specialists like to stay investing in companies with a sub-$50m EBITDA, they like to joke that it is because they like covenants.

With some larger private credit managers jostling for deals at the upper end of the middle market, a larger number are sticking to their knitting in focusing on financing those smaller companies. It’s private credit’s historical sweet spot and is a space immune to some of the more borrower-friendly trends seen in competitive situations with the syndicated market.

In this episode, a senior reporter in 9fin’s US private credit team, Peter Benson, sat down with Bill Sacher, partner and head of private credit at Adams Street, to discuss what is happening in the core middle market. Is deal flow will be coming back? Will ETFs will take hold?

Want to share feedback on this episode? Send us a note at [email protected].

  continue reading

191 episodes

Artwork
iconShare
 
Manage episode 475647578 series 3446609
Content provided by 9fin Limited. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by 9fin Limited or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

On why some lower middle market lending specialists like to stay investing in companies with a sub-$50m EBITDA, they like to joke that it is because they like covenants.

With some larger private credit managers jostling for deals at the upper end of the middle market, a larger number are sticking to their knitting in focusing on financing those smaller companies. It’s private credit’s historical sweet spot and is a space immune to some of the more borrower-friendly trends seen in competitive situations with the syndicated market.

In this episode, a senior reporter in 9fin’s US private credit team, Peter Benson, sat down with Bill Sacher, partner and head of private credit at Adams Street, to discuss what is happening in the core middle market. Is deal flow will be coming back? Will ETFs will take hold?

Want to share feedback on this episode? Send us a note at [email protected].

  continue reading

191 episodes

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