Insults and Indecision at a Private Credit Pioneer

Welcome to Going Private, Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at Canadian pensions and a KKR takeover. But first, we bring you inside the struggles of one of the oldest private credit lenders. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net — Davide Scigliuzzo

As Wall Street executives rush to grab a piece of the booming private credit market, you might expect a pioneer of the industry with a track record going back several decades to be thriving.