Top 20% of Private Credit Firms Dominate 80% of the Market
Josh Kopowitz · Josh Koplewicz – Flexible Capital and Creative Structures at Thayer Street (EP.451) · Jun 12, 2025 · at 25:06
Josh Koplewicz, founder of Thayer Street Partners, discusses structural voids in the middle market and private credit lending with host Ted Seides.
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“80% of private credit is dominated by 20% of the players. They are investing out of very large funds. That market continues to consolidate. And the focus of most folks in direct lending and private credit is on opportunities that are larger than fifty million dollar checks. It's hundred plus million dollar allocations. So you have this piece of the market somewhere between five and fifty million dollars that is not efficiently served in terms of flexible debt.”
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