OCREDIT's $2.5B Offering: What a Non-Traded Perpetual-Life BDC Really Costs You
TL;DR: On July 7, 2026, T. Rowe Price's OHA Select Private Credit Fund, ticker OCREDIT, registered a new continuous offering for up to $2.5 billion in common shares, split roughly $833.3 million each
How to Evaluate a Private Credit BDC Before You Invest: A Due-Diligence Checklist
TL;DR: In early 2026, Blue Owl Capital Corp II froze quarterly redemptions entirely for a $1.6 billion non-traded business development company, after investors realized a wave of loan markdowns could
Infrastructure Debt Investing: How Accredited Investors Can Fund the AI Data-Center Boom
TL;DR: Infrastructure debt means lending money, as a senior secured loan or a mezzanine tranche, against essential physical assets: toll roads, power grids, pipelines, and increasingly AI data centers
Invoice Factoring & Trade Finance Funds: Short-Duration Yield After Greensill
TL;DR: Global factoring turnover topped €4.04 trillion in 2025, up 3.7% year over year, with US factoring volume growing more than 35%, according to the Federal Reserve's October 2025 Senior Loan...
ESOPs as a Business Exit Vehicle: How Accredited Investors Can Fund the Transition
TL;DR: According to the National Center for Employee Ownership (NCEO) , 6,609 ESOPs now hold $2.06 trillion in total plan assets and cover 15.1 million participants, based on 2023 Form 5500 filings....
Merchant Cash Advance Funds: High-Yield Private Credit or Regulatory Time Bomb?
TL;DR: Merchant cash advance funds pitch accredited investors on 20-40%+ effective yield by purchasing small businesses' future credit card receivables at a discount, but the FTC has already...
Structured Notes: The 'Best of Both Worlds' Pitch Accredited Investors Should Interrogate
TL;DR: U.S. structured note issuance hit a record $226 billion in 2025, up 14.1% year over year, per SPI Intelligence's USA Market Report. According to the SEC's own investor bulletin on structured...
SEC Rule 144A: The Institutional Safe Harbor Behind Your Private Credit Fund's Portfolio
A qualified institutional buyer needs $100 million parked in securities before it can touch a Rule 144A bond. You don't have that. But if you own shares in Barings BDC (NYSE: BBDC) or a private credit
Stonepeak Infrastructure Credit Fund II's 3(c)(7) Filing Wave: What the Qualified-Purchaser Wall Means for Accredited Investors Chasing the AI Power Buildout
On July 2, 2026, Stonepeak filed a Form D for Stonepeak Infrastructure Credit Fund II LP, an infrastructure credit vehicle relying on Investment Company Act Section 3(c)(7) — meaning it can only accep
Hayfin's €15 Billion Fund Close Shows Where Smart Money Hides From Private Credit Liquidity Risk
Hayfin's €15B Direct Lending Fund V close reveals why institutions avoid semi-liquid BDCs. What accredited investors must know before allocating.
Private Credit's $2 Trillion Blind Spot: What It Actually Shares With Pre-2008 CDOs
Private credit has grown into a $1.5-2 trillion global market, and in the fourth quarter of 2025, 20 BDCs posted net asset value declines of 1.5% or more in a single quarter, the worst reading of the...
What Family Offices' 2026 Alternatives Pivot Tells Individual Investors
Family offices now put 42% of their portfolios into alternative investments, according to the UBS Global Family Office Report 2026 , which surveyed 307 family offices with an average net worth of...
How to Build a Private Markets Portfolio: An Asset Allocation Guide for Accredited Investors in 2026
How much to allocate to alternatives, how to sequence commitments by vintage year, and a due-diligence checklist before you wire capital.
BlackRock's Private Credit CEO Is Out. Here's What the TCP Capital Mess Tells Accredited Investors
BlackRock TCP Capital's CEO is stepping down amid a federal valuation probe and two NAV markdowns in five months. Jeff Barnes breaks down what it means.
Permira and Warburg Pincus Just Closed an $8.4 Billion Take-Private on Clearwater Analytics. Here Is What It Tells Us About PE Right Now
Permira and Warburg Pincus closed an $8.4 billion take-private of Clearwater Analytics at a 47% premium, backed by $3.5 billion in private credit.
Litigation Finance: The Uncorrelated Alternative Investment That Funds Lawsuits for Returns
Litigation Finance Investing 2026: Returns, Risks, Access Litigation Finance: The Uncorrelated Alternative Investment That Funds Lawsuits for Returns By Jeff Barnes, MBA | July 1, 2026 TL;DR The globa
The Fed Held Rates Again. Here's What That Means for Your Private Credit Allocation in H2 2026
Fed Rate Hold H2 2026: Private Credit Impact for Investors The Fed Held Rates Again. Here's What That Means for Your Private Credit Allocation in H2 2026 By Jeff Barnes, MBA | July 1, 2026 | Alternati
Venture Debt Explained: When Startups Borrow Instead of Dilute
The US market hit a record $68.8 billion in 2025. Current rates run 10-14% annually with warrant coverage of 0.05-2%, far cheaper than the 15-25% dilution from a typical equity round. SVB's collapse i
Cov-Lite Loans and the Covenant Erosion Hiding in Your Private Credit Portfolio
TL;DR Over 90% of large-cap leveraged loans are now covenant-lite, yet recovery rates on cov-lite senior secured debt trail covenanted loans by roughly 10 percentage points, running at 65 to 67 cents
How to Evaluate a Private Credit Fund: 12-Step Due Diligence Checklist for Accredited Investors
Private Credit Fund Due Diligence: 12-Step Check How to Evaluate a Private Credit Fund: 12-Step Due Diligence Checklist for Accredited Investors TL;DR: Private credit has delivered roughly 4% net-of-f