Fund ManagersIs junior capital PIK’s innocent victim?Why the ‘good’ vs ‘bad’ PIK debate is also about junior capital vs senior debt.ByAndy Thomson2 October 2025•3 mins readFund ManagersEuropeNorth AmericaResearch & DataBDCJunior DebtOpportunistic CreditSenior DebtLimited PartnersCovenantsFund ManagementFund ManagersInvestorsOpinion