BDC Weekly
BDC Weekly: Income Held. Portfolio Growth Did Not.
The BDC income engine is still working. The harder question is whether lenders can replace repayments, protect NAV, and capture new financing demand without weakening underwriting.
AI Infrastructure
BDC Weekly
BDC Weekly: How Meta’s AI Data Centers Are Pulling Private Credit Into Infrastructure
AI used to reach private credit through software borrowers. Now it arrives as a gigawatt-scale infrastructure project with billions of dollars of debt.
BDC Weekly
BDC Weekly: The Rate Tailwind Has Split in Two
The Fed did not give markets a path. It gave them a fork. For BDC investors, the old higher-for-longer trade is splitting into two stories: income and credit.
Private Credit
Asset-Backed Finance And AI Infrastructure: How Data Centers Become Collateral
AI infrastructure is becoming physical enough to finance against. The key question is whether data-center leases, equipment, receivables, and power contracts can produce reliable cash flow.
Private Credit
How AI Infrastructure Gets Financed: The Private-Market Capital Stack Behind Data Centers
The AI boom is not only a chip story. It is a capital-formation story built on power, land, leases, collateral, private credit, asset-backed finance, and long-duration underwriting.