Commentary
September 2026
Podcast: Credit Crossroads with Bob O’Leary and Armen Panossian
A conversation considering the risks and opportunities resulting from a more complex lending environment, focusing on challenges facing the corporate direct lending market.
Topics explored:
- The reassessment of software enterprise values and the associated impact on software debt
- The pressures faced by non-traded BDCs, including significant redemption requests
- Increasing private credit secondary activity as LPs and GPs seek liquidity
- How challenges to corporate credit are catalyzing interest in heavy-asset investments, including asset-backed finance and infrastructure debt
- Ongoing dispersion in asset performance as the weakest credits – include those underwritten in 2021-22 – continue to struggle
Co-CEOs of Brookfield Credit Bob O’Leary and Armen Panossian shared their latest credit market insights in a recent webcast held for clients. They discussed the forces reshaping the direct lending landscape and examined how investors can assess risk and capture opportunities in an increasingly complex lending environment. Listen to an excerpt from the conversation.
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