The Ledger

Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.

clear all ✕

why aren't all 7 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable

Assertion Partly supported
Overall U.S. gym membership grows annually despite massive customer turnover
“When you look at the macro dynamics in the U.S., gym membership grows every year.”
Ron Cantowitz Jul 17, 2025 ▶ 42:51 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Supported
Invesco's private credit platform manages approximately $50 billion in assets
“Invesco's private credit platform, which today is about a fifty billion dollar credit platform.”
Ron Cantowitz Jul 17, 2025 ▶ 9:04 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Supported
Five-billion-dollar unitranche private debt deals are now routinely getting done
“Today, I mean, you know, billion dollar unit tranches, there's nothing unique about them. You know, five billion dollar unit tranche deals are getting done.”
Ron Cantowitz Jul 17, 2025 ▶ 13:45 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Supported
Private equity firms sponsor at least 70% of direct lending transactions
“Today, at least 70% of all direct lending is sponsored.”
Ron Cantowitz Jul 17, 2025 ▶ 15:51 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Supported
Direct lending loan-to-value ratios currently average in the mid-forties
“Typically, loaned values today are running in the mid-forties.”
Ron Cantowitz Jul 17, 2025 ▶ 16:18 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Supported
Capital inflows have compressed private credit spreads by 50 to 75 bps
“We have seen spreads come in, 50, 75 basis points, but the reason you're still seeing so much capital coming into the market is, On a relative basis, it's still an incredibly attractive asset class.”
Ron Cantowitz Jul 17, 2025 ▶ 39:13 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
Assertion Partly supported
Gym businesses lose 40% to 50% of their clients every year
“The thing about gym businesses, on average, you lose 40 to 50% of your clients every year.”
Ron Cantowitz Jul 17, 2025 ▶ 42:40 Ron Kantowitz – Direct Lending's Evolution and Invesco's Edge (EP.457)
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