Kõik artiklid

The Loan Is Not the Only Leverage: Why Private Credit Needs a Fund-Level Debt Map

A private-credit fund can own loans and borrow against its portfolio, while a feeder adds another financing layer. Each claim has different debtors, collateral and calculation rules. A useful debt map keeps those layers separate, connects their evidence and shows how a change in portfolio value can affect fund financing and investor cash flows.

Loe artiklit →

A Claim Is Not Its Proceeds: What First Brands Reveals About Litigation Assets

First Brands’ failed Chapter 11 plan exposed a distinction that matters far beyond one bankruptcy: a legal cause of action, the future proceeds of that action, a lien over those proceeds, litigation funding and an economic interest in a litigation trust are not the same asset. The court rejected a proposed credit bid for certain estate claims where the lenders’ liens attached to proceeds rather than the claims themselves, while the wider plan depended on major future litigation recoveries....

Loe artiklit →

When the Collateral Is Compute: What a GPU-Backed Loan Actually Owns

GPU-backed private credit is developing into a distinct form of equipment and infrastructure finance. Bullish provided USD.AI with a $100 million stablecoin-based facility in August 2026 to support loans secured by high-performance computing assets, while USD.AI reported more than $281 million of lifetime deployed capital across GPU financings by month-end. The challenge is that the collateral is mobile, rapidly depreciating, technically specialised and economically dependent on data-centre...

Loe artiklit →