May 3, 2023
Head of Origination, Bobby Molina, spoke with 9Fin on how investors are contniuing to seek private credit investments. With direct lending having "replaced the broadly syndicated markets in many situations,” Bobby pointed to heightened competition between lenders to win deals “on the cheapest pricing” and “the least amount of covenants." The article went on to say that "this has pushed some investors to rethink where they direct their cash, and look at other areas of private credit — such as specialty finance strategies — where the dynamic is less competitive." And that, "Venture debt, opportunistic credit and asset-based lending strategies in particular are getting interest, Molina said. Several funds have raised large asset-based lending funds in recent months, as we detailed in a feature article last year."