News
June 2026
Ravi Mehta and Jozef Lampa Discuss Private Credit Secondaries’ Expansion into BDCs
Our Private Capital Advisory team recently sat down with April Joyner at LSEG to discuss the growth of the private credit secondaries market and how it is poised to expand into new categories of transactions.
As the secondaries market expands, new types of private credit secondary transactions have begun to emerge, including loan portfolios from business development companies and evergreen funds.
These transactions have become more prominent in recent months due to steep share declines in publicly traded BDCs and elevated share redemption requests in perpetual non-traded BDCs.
“Everyone at the firm comes from credit DNA, and so they have the ability to communicate the harder credit stories,” Ravi said. “We think that that gives us an edge to sell not only the easy stuff, but also the more interesting or nuanced stuff.”
“Today, there is less purely defined capital around the junior credit opportunity set relative to senior credit, but we’ve made great inroads to discovering who can underwrite the junior credit risk profile,” said Jozef.
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