Committed Capital
With private equity firms sitting on record levels of dry powder, opportunities for PE investment and dealmaking still abound. Yet complexities surrounding valuation, due diligence and financing are at an all-time high. Hosted by members of Dechert’s Private Equity practice, Committed Capital explores current issues and trends affecting PE globally, featuring conversations with leaders from across the industry.
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Committed Capital
Private Credit: State of the Market
Banks have reduced their lending activities to private companies of all sizes over the last 10 to 15 years and bank regulators have continued to pressure banks to remain on the sidelines in this lending market. Private credit providers have not only stepped in to fill this void, they have also significantly grown their share of the large company lending market. This explosive boom in private lending has been supported by larger fundraising vintages and expanded origination capabilities, including offering competitive lending terms compared to the bank and syndicated loan markets. What are the drivers behind this growth, and where is the market headed?
In this episode, Dechert’s Harry Pangas leads a discussion with Saratoga Investment Corp.’s Chris Oberbeck on what makes private credit attractive to borrowers, investors and money managers, and the trends that will shape it in the years to come.