PIK Loans in Private Credit: What Payment-in-Kind Notes Mean for Direct Lending Investors
By Jeff Barnes, MBA | Angel Investors Network | August 3, 2026
August 3, 2026
Ondo Finance Eyes $500M Deal as RWA Market Crosses $36B
By Jeff Barnes, MBA | Angel Investors Network | August 3, 2026
August 3, 2026
Carried Interest Taxation 2026: What Congress Is Threatening and What It Costs PE Funds
Congress has tried to eliminate the carried interest tax preference since 2007 and has failed every time. The most recent attempt, H.R. 1091 (Carried Interest Fairness Act of 2025), is still alive in
August 3, 2026
Preferred Equity in Real Estate: Where It Sits in the Capital Stack and What Investors Earn
By Jeff Barnes, MBA | Angel Investors Network | August 3, 2026
August 3, 2026
Management Fee Offset in Private Equity: What Every LP Should Negotiate
Management fee offsets reduce the effective cost of PE fund ownership by crediting portfolio company fees back against management fees charged to LPs. In 2026, 100% transaction fee offsets and 80%
August 2, 2026
Interval Fund vs Closed-End Fund: Which Belongs in Your Alternative Portfolio?
Interval funds and closed-end funds both give retail investors access to illiquid alternatives — private credit, real estate, infrastructure. But they are structurally different. Interval funds trade
August 2, 2026
Ares Management Q2 2026: $52 Billion in Direct Lending — What It Means for Accredited Investors
Ares Management closed $8.2 billion in new U.S. direct lending commitments in Q2 2026 alone, bringing its trailing 12-month total to $52.3 billion. That number tells you where institutional capital
August 2, 2026
Participating Preferred Stock Explained: How It Affects Your Angel Returns at Exit
Participating preferred stock lets investors collect their liquidation preference AND a pro-rata share of remaining exit proceeds. Non-participating preferred forces a choice: take the preference or
August 2, 2026
How to Build an Angel Investing Portfolio: The Math Behind Diversification
Angel investing returns follow a power law. The top 1% of deals return 50x or more. The bottom third are total losses. This means diversification is not optional — it is the mechanism that makes
August 2, 2026
SEC's First Rule 18f-4 Enforcement: What Every ETF Investor Needs to Know
The SEC just issued its first-ever enforcement action under Rule 18f-4 — the derivatives risk management rule for investment companies. The target was Simplify Asset Management. The penalty was
August 2, 2026
Lincoln Property Crosses $2 Billion in 2026 Capital: Family Offices Are Back in CRE
Lincoln Property Company crossed $2 billion in capital formation in 2026, driven substantially by family office partnerships. The anchor investors — connected to Pilot Flying J and Endeavor Energy
August 2, 2026
Private Equity Secondaries Hit Record $121B in H1 2026: What LPs Need to Know
The private equity secondaries market closed H1 2026 at $121 billion in volume — a record first half. GP-led secondaries hit $65 billion, up 35% year-over-year. The full year is tracking to $250-260
August 2, 2026