Insights & Analysis
THE ALTERNATIVE FORTUNE LIBRARY
Looking for our flagship deep dives?
What Is a Quant Fund? How Systematic Investing Works
What a quant fund is and how systematic investing works: the data-to-execution pipeline, the main strategy families, and where the model breaks.
What is a BDC in private credit, and how BDCs give investors access
What a BDC is, how business development companies give US investors a listed door into private credit, the wrappers a non-US investor buys instead (LTAF, ELTIF, UCITS, listed debt trusts), and why listed versus non-traded is the choice that matters.
Direct Lending vs Private Credit: What’s the Difference?
Private credit explained: learn how it works, direct lending vs private credit, and what drives returns, fees, liquidity, and risks for investors.
What Is Asset-Based Lending? Definition, Structure and How It Works
Asset-based lending explained: what a borrowing base is, the advance rates lenders apply to receivables, inventory and equipment, and how ABL differs from cash-flow lending.
Asset-Based Lending Rates, Terms and Process: What Borrowers Should Expect
Asset-based lending rates go far beyond the SOFR margin. Here is how advance rates, fees, the borrowing base and cash dominion set the real cost.
Asset-Based Lending vs Cash Flow Lending: Which Structure Suits Which Borrower?
Asset-based lending vs cash flow lending: what each underwrites, advance rates against leverage multiples, covenants, pricing, and which borrower each suits.
Mezzanine Finance for Property Development and Real Estate: How It Works
How mezzanine finance works in property development: where it sits in the capital stack, what it costs, and why the mezz slice carries the project’s real risk.
What Is Mezzanine Finance? Where It Sits Between Senior Debt and Equity
Mezzanine finance sits between senior debt and equity. Here is how its returns are built from coupon, PIK and warrants, and what the position really costs.
What Is a BDC in Private Credit? How Business Development Companies Give Investors Access
What a BDC is, how business development companies give US investors a listed door into private credit, the wrappers a non-US investor buys instead (LTAF, ELTIF, UCITS, listed debt trusts), and why listed versus non-traded is the choice that matters.
The Rise of Private Credit ETFs: Can You Get Liquid Exposure?
Private credit ETFs promise daily liquidity on loans that take months to sell. Here is how the wrapper actually works, and where the liquidity really comes from.
Private Credit vs Private Debt: Are They Actually Different?
Private credit vs private debt: are they actually different? The honest answer, why the experts disagree, and the one distinction that affects your money.
Largest Private Credit Firms and Funds: Who Runs the Market?
The largest private credit firms ranked by AUM: Apollo, Ares, Blackstone, KKR and more, with real 2025 figures and why the league tables disagree.
One deep dive per week. No spam. Unsubscribe anytime. Join thousands of sophisticated investors.