Despite its large and increasing size in the United States and Europe, the private debt (PD)
market, compared to the bank and syndicated loan markets, has been researched little. In …

With the declining presence of banks in corporate lending, many have raised concerns over
vulnerabilities associated with nonbank intermediation. In this paper, I study whether direct …

This figure illustrates the growth of private capital asset classes. Assets under management
(AUM) are in billion US dollars. To avoid double counting of available capital and unrealized …