Market Analysis
How to Evaluate a Hedge Fund's Leverage and Margin Practices Before Investing
A hedge fund's leverage is the single biggest driver of how much money you can lose, and most offering documents make it hard to see.
Jeff Barnes, MBA··11 min read
Market Analysis
The 2026 BDC Debt Issuance Wave: What Apollo, Kayne Anderson, and Blackstone's Deals Reveal About Private Credit Leverage
Apollo Debt Solutions BDC closed a $514.9 million CLO securitization on August 6, 2026 , and it's not an outlier. Kayne Anderson BDC (NYSE: KBDC) just booked $138.7 million in new Q2 private credit...
Jeff Barnes, MBA··10 min read
Alternative Investments
Leverage on Leverage: The Hidden Risk in Rated CFO and CLO Structures
TL;DR: Rated collateralized fund obligations (CFOs) now let insurers and other buyers hold a AAA-rated slice of a private credit fund that is already borrowing against its own portfolio through
Jeff Barnes, MBA··13 min read