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Private debt plays the accordion

What is driving the increased use of accordions in the mid-market?

Playing to mid-market strengths

Private credit funds are flocking to industries deemed to be insulated from geopolitical uncertainty. But does this flight to safety mean competition is heating up?

Download the June 2025 issue of Private Debt Investor

Inside: Is there a turn of the credit cycle in the making? We take a deep dive into the dangers lurking in the current market; Plus, how AI is giving underwriting a boost; Real estate debt’s biggest fundraisers ranked; And much more…

Private credit deals: No sponsor? No problem

Non-sponsored deals are becoming more prevalent in the private credit industry as lenders grapple with declines in private equity fundraising.

Direct lending: The centre continues to hold

Private debt’s most popular strategy retains a lot of appeal for mid-market investors, but appetite for more innovative structures is growing.

Keys to success: Three ways to lock in mid-market opportunity

Private credit firms and investors look at how to make the best of what’s on offer in the mid-market amid a challenging macro environment.

Securing the mid-market

Intensifying geopolitical uncertainty has implications for deal volumes, terms and pricing throughout the mid-market private credit industry, but it still shows opportunities for growth.

LPs keep faith in mid-market credit amid tariff turmoil

Investors are bullish on mid-market lending despite default and recession risks, and even as swelling inflows are leading some private debt GPs to do larger-cap deals.

Manager selection comes to the fore

The European mid-market is becoming increasingly crowded, but there are a few ways that LPs can identify leaders in the space, writes Sven Gralla of LBBW Asset Management.

Investor Intentions: Mirait One seeks private debt opportunities

The institution looks to expand its private debt portfolio in 2025, with a focus on the US and Western Europe.