Breach: Many private BDCs correlate 50% to 60% with each other
David Breach · David Breach – Software Specialist Enters Private Wealth (Private Wealth 6, EP.450) · Jun 9, 2025 · at 37:06
David Breach, President and COO of Vista Equity Partners, contrasts standard sponsor-backed private credit BDC portfolios with Vista's direct-lending approach.
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“Broadly speaking, a lot of the private BDCs, they correlate to each other, 50, 60%. They're all going into the same deals.”
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