Perspective
June 2026
Holding periods and underwriting discipline
Observations on how multi-year ownership assumptions alter diligence priorities when exit windows are uncertain.
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Selected notes from our work.
Occasional commentary on private markets, underwriting, and capital structure. These pieces reflect internal discussion and are not investment advice.
Selected notes
Credit
May 2026
Covenant design in mid-market lending
A practical view of matching documentation to cash-flow variability without unnecessary complexity.
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April 2026
Assessing durability in applied AI businesses
Distinguishing product novelty from switching costs, data advantages, and sustainable unit economics.
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March 2026
Cross-border diligence in private markets
How regional teams and shared standards interact when capital crosses jurisdictions.
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