Over the past five months, we’ve examined the impact of COVID-19 on the economy and the markets and interviewed top private equity and investment banking partners on deal making in the U.S.  

What’s largely lost in media reporting is the dramatic turn in #privatecredit.  

This asset class emerged from Great Recession to become one of the fastest growing for fundraising and investing. Various trends, greater bank regulation, vast PE dry powder, soaring valuations – all pushed issuer terms to increasingly competitive levels.  

Credit investors found themselves having to choose either the largest fund managers, who won transactions with the least investor-friendly terms, or opportunistic lenders offering higher yields…with much higher risk...