Thought Leadership
Covid-19: The Growth Opportunities and Challenges
NEW YORK, September 1, 2020 – Coronavirus was top of the agenda when Robin Blumenthal caught up with four private debt experts this summer. Although there are bound to be some casualties, everyone agreed that private debt is well-placed to emerge strongly from this most unpredictable set of events…
Will Direct Lenders Jump to COVID-Fueled ‘Secondary’ Deals?
NEW YORK, August 26, 2020 – …As these moves spilled out into the direct lending market, a spurt of secondary loan sales came online all at once, says Alona Gornick, principal on the originations team at Churchill…
Mid-Market Loans Have Plummeted
NEW YORK, August 7, 2020 – Loans to finance middle-market leveraged buyouts have plummeted nearly 80 percent from the previous quarter, according to Randy Schwimmer, head of senior lending origination and capital markets for Churchill Asset Management…
Pandemic Puts Direct Lending in Danger Zone
NEW YORK, June 29, 2020 – “Aggressive issuer-friendly terms were indeed features of the bull loan market that ended in early March,” said Randy Schwimmer, New York-based senior managing director, head of origination and capital markets at Churchill Asset Management…
Private Credit Market to See M&A as Virus Forces Consolidation
NEW YORK, May 22, 2020 – “Structures will be tighter, leverage lower and spreads wider, and that will only be enhanced by the volatility in liquid markets.” said Randy Schwimmer, head of origination and capital markets at Churchill Asset Management…
Middle Market Sponsors Face Increased Pricing, Covenants as Covid-19 Crisis Deepens
NEW YORK, May 1, 2020 – “At the moment, new deal data is skimpy, but I expect spreads to be much wider and leverage well off from where we were in January,” said Randy Schwimmer, head of originations at Churchill Asset Management, a direct lending firm…
Four Emerging Lessons from COVID-19 for North American Private Debt
NEW YORK, April 24, 2020 – Head of Origination & Capital Markets Randy Schwimmer discusses What Lessons Are Emerging as a Result of COVID-19 in Preqin’s Special Report…
Private Credit Weighs Risks and Opportunities in Market Turmoil
NEW YORK, March 17, 2020 – Firms that don’t have fresh capital available to deploy, especially smaller, newer ones, could be especially vulnerable, said Ken Kencel, president and chief executive of midmarket private credit firm Churchill Asset Management….