Digital Editions

As private credit matures, lenders face rising competition, expanding secondary markets and greater liquidity scrutiny. Dealmakers say disciplined underwriting and specialization will separate the winners.

Our 19th annual awards unveil the top transactions in the Middle Market.

Mega-fund momentum has masked a tougher reality for smaller firms, where fundraising now hinges on pedigree, sector focus and increasingly creative deal structures.

Fifty voices. Dozens of sectors. One sweeping look at how investors, lenders and advisors are preparing for the year ahead. Here’s what’s keeping them up at night — and what’s giving them hope.