Bloomberg recently spoke with Bill Sacher to discuss the impact of a changing competitive landscape in private debt. Opportunities remain in the private credit market, despite dislocations caused by COVID-19, but not for everyone. Lenders with conservative portfolios, low leverage, robust equity cushions and strong covenants are finding themselves well-positioned to take advantage of new opportunities amid thinning competition.

According to Bill, lenders should have the ability to get deals with lower leverage, higher pricing and stronger covenants due to a shift in negotiating power from borrowers to lenders.

Read the full article to learn more about how Adams Street seeks to take advantage of the lower prices in the leveraged loan market.

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