Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
Private credit investors, including BDCs holding 25% of the capital in this asset class, are starting to fund the liquidity gap. This institutional investment strategy (see https://therabidcapitalist.com/2023/10/06/bdcs-a-man-bites-dog-story/) can generate lucrative returns. The size of the current liquidity gap is large and growing, ensuring that the private credit capital base can be put to work productively. BDCs are positioned to take advantage of this once in a generation investment opportunity.
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