Mid-Market

Although Australia is seeing real-estate related pressure, concerns about runs, repurchases, PIK and software appear overblown, some observers agree.

Nick Meserve, head of private credit at Main Street Capital, highlights some of the key distinctions between the lower and upper mid-markets.

This year has seen a trend of new aviation finance platforms; the newest entrant targets a portfolio of $2bn.

Asset-based lending and term lending are coming together to meet challenges for a wide range of companies under pressure, argues Richard Gumbrecht.

The manager, which operates in the lower mid-market, in early June wrapped up one of the year’s stand-out private credit fundraisings to date.

Sponsors can complement good underwriting but not replace it, say Apogem Capital’s Bill Kindorf and Adam Willis.

Lenders must embed adaptation and resilience readiness into standard credit assessment, writes Ravi Singh, senior manager at Institutional Investors Group on Climate Change.

The top end of European private credit may be drifting into syndicated territory and taking pricing and lender protections with it, but original terms have held down-market, says Charles-Henri Clappier, partner, head of KSO France and business development at Kartesia.

Grier Eliasek of Prospect Capital says a bifurcation in direct lending approaches has led to a proliferation in mid-market opportunities in the US, benefiting firms with the right resources.