private credit loans

“There's some obvious ones where you see, let's just say public BDCs that own the same club deal, the same loan. One BDC versus another, or two or three versus a fourth BDC, there's a massive variance, in a second lien especially, where you're like, wait, the f…”

“Then you have micro situations where loans are getting marked from hundred to zero in one quarter.”

“Because the loans in typical seven years, but you hope to be refined three or four years. Once it gets past four years, there's probably a reason for it.”