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 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.