US Edition — Making marks in private credit

<p>Unlike liquid leveraged loans, private debt is not frequently traded (although there are signs that this might be changing) and thus can be hard to value.</p><p>But the funds that hold those private loans still have to find a way to value their books. How do they make their marks?</p><p>In this episode of our Cloud 9fin podcast, deputy editor Bill Weisbrod sits down with Brian Garfield, a managing director in Lincoln International’s valuations and opinions practice, who helps private credit funds value their holdings in illiquid debt instruments.</p><p>What’s the process for valuing an illiquid private loan? How are rising rates impacting private credit borrowers? And what does the rest of the year hold for asset performance?</p>