Alcentra

Despite the industry’s ambition, elevated rates and the risk of a worsening economy are pushing many direct lenders to tighten their belts and look for ways to reduce their risks.

Private credit is taking center stage in the face of rising rates and economic uncertainty.

Praesidiad and its creditors have been locked in negotiations over how to deal with debt coming due next year, with the most likely scenario being a lender takeover of the firm.