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PIK Check: Non-Traded BDCs
PIK income at the largest non-traded BDCs rose again in Q2. Here’s what that does and doesn’t tell LPs about credit quality.
Oct 14
•
Leyla Kunimoto
38
1
1
Private Equity’s Bad Bank Problem: Who Sets the Price?
Partners Group’s evergreen fund restructuring separates legacy assets from new investments. But without a market-based transfer price, what does the…
Oct 10
•
Leyla Kunimoto
50
1
1
ODIT: How Blue Owl's Data Center Fund Makes Money
A deep dive into Blue Owl Digital Infrastructure Trust (ODIT): its $4.3 billion data center portfolio, appraisal-driven returns, Class E shares…
Oct 8
•
Leyla Kunimoto
39
1
Follow the Breadcrumbs: Who Owns the Risk in Project Jupiter?
Tracing Project Jupiter's financing through Oracle, Blue Owl, Apollo and the funds that may hold pieces of it.
Oct 5
•
Leyla Kunimoto
62
4
3
Help Me Write to the SEC | A Fund Considers Splitting | AI Is Now Half of IG Bond Issuance (and so much more)
🗞️ Sunday digest: private markets insights 10/3
Oct 3
•
Leyla Kunimoto
55
14
4
September 2026
RREEF Property Trust Liquidation: What Happens When the Money Stops Coming In
A close look at redemptions, distributions, and what’s left to sell
Sep 27
•
Leyla Kunimoto
35
1
NAV Loans: Follow the Leverage
An update on NAV financing: the market doubled, banks took over, and your semi-liquid fund might already have one.
Sep 24
•
Leyla Kunimoto
40
1
The Harrison Street Real Estate Fund Liquidity Squeeze
A $1.4 billion fund, a 15-quarter redemption queue, and the first interval fund auction
Sep 20
•
Leyla Kunimoto
39
6
1
The Seed Portfolio Trade
Or how evergreen PE generates massive early IRRs
Sep 17
•
Leyla Kunimoto
36
6
2
Wider Doors for Private Markets | 274 Days to Close | Sponsor Reputation Has a Price | CRE Transaction Volume Up
🗞️ Sunday digest: private markets insights 9/12
Sep 12
•
Leyla Kunimoto
47
3
From Par to Pennies: The Problem With Private Credit Marks
Blue Owl carried $133 million of Loparex’s most junior debt near par. Six months later, it was worth five cents on the dollar.
Sep 10
•
Leyla Kunimoto
50
5
1
Apollo’s $9 Billion Deal is Neither Fish Nor Fowl
How ONEOK gets equity capital, Apollo gets debt-like cash flows, and insurers may ultimately get investment-grade securities.
Sep 6
•
Leyla Kunimoto
56
7
7
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