Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a brief summary of a detailed note available to paid subscribers.
In August 2023, the Rabid Capitalist noted that private equity’s pain would become private credit’s gain (see https://therabidcapitalist.com/2023/08/06/the-business-development-company-bdc-investment-strategy-2/). Recently, Bain reported the depth of these conditions. Our BDC portfolio (ARCC, CCAP, CSWC, FSK, MAIN, OBDC and OCSL) is well positioned to profit from this misery, despite AI-driven headwinds, both real and imagined.
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