ERA vs. RIA: What Adviser Registration Actually Protects You From
On August 27, 2026, the SEC charged 38 entities with filing false Form ADVs that claimed Exempt Reporting Adviser (ERA) status, using that label to look legitimate to retail investors. Almost none of
September 3, 2026
The SPV Fraud Wave Should Scare You More Than the Headlines Do
On August 10, 2026, the SEC sued Adit Ventures Management, founder Eric Munson, and three affiliated general partners, alleging the firm told an investor it already owned 32,000 shares of Klarna stock
September 3, 2026
Private Credit Is Not Dying. It Is Consolidating
Golub Capital calls the private credit stress a Darwinian moment, and fresh bank capital deploying into the dislocation backs the read.
September 2, 2026
Levine Leichtman Capital Partners Buys The Colt Group in Its Fifth Fund VII Deal
LLCP acquired The Colt Group in its fifth Fund VII platform deal, showing how its structured debt-plus-equity strategy actually works.
September 2, 2026
Variant Alternative Income Fund Review 2026: What Half Its Investors Just Tried to Exit
About half of Variant Alternative Income Fund's shares were queued for redemption in one quarter, testing interval fund liquidity limits.
September 2, 2026
Permira and CPP Investments Take Fund Administrator JTC Private for 2.7 Billion Pounds
Permira and CPP Investments took fund administrator JTC private for 2.7 billion pounds, consolidating the infrastructure behind private funds.
September 2, 2026
Private Credit's 15 Billion Dollar Exit Line: A Data Look at Who Is Trying to Get Out
Cox Capital offered 90 million for discounted BDC shares. Investors took less than 5 million, revealing a 15 billion dollar exit backlog.
September 2, 2026
Cross-Collateralization in Fund Structures, Explained
Cross-collateralization pledges multiple fund assets as shared security, turning one default into a risk for the entire pool.
September 2, 2026
Bathla Group's Collapse Exposes 40 Private Credit Lenders. Here Is What It Signals
Bathla Group's collapse exposed roughly 40 private credit lenders at once, a concentration risk US investors should recognize in their own funds.
September 2, 2026
BDC Debt-to-Equity Ratio: The Leverage Number Every BDC Investor Should Check
A BDCs debt-to-equity ratio reveals real leverage. The 2018 rule change doubled the ceiling from 1:1 to 2:1, and the trend matters most.
September 2, 2026
MA Financial Caps Redemptions at 1% a Month. Here Is What It Teaches Retail Investors
MA Financial capped redemptions at 1% a month with zero Bathla exposure, showing how fear spreads faster than actual credit losses.
September 2, 2026
7 Red Flags to Check Before You Invest in a Private Credit Fund
Rising leverage, climbing non-accrual rates, and SEC scrutiny are real warning signs. Here are 7 checks before investing in private credit.
September 2, 2026