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    Balbec Capital's $930M Bet on Mortgage Debt Banks Won't Touch
    Alternative Investments

    Balbec Capital's $930M Bet on Mortgage Debt Banks Won't Touch

    Balbec Capital's $930M Bet on Mortgage Debt Banks Won't Touch Balbec Capital LP just closed its seventh flagship credit fund at $930 million in committed capital, according to a Bisnow report on the

    Jeff Barnes, MBA··10 min read
    Fidelis Just Sold $191.5 Million in House-Flipping Debt. Here's Why That Matters for Accredited Investors.
    Real Estate

    Fidelis Just Sold $191.5 Million in House-Flipping Debt. Here's Why That Matters for Accredited Investors.

    Fidelis Just Sold $191.5 Million in House-Flipping Debt. Here's Why That Matters for Accredited Investors. Fidelis Investors closed a $191.5 million securitization of residential transition loans on

    Jeff Barnes, MBA··10 min read
    AIP Capital and Monroe Capital's $643M Aircraft ABS: What the Tranches Tell You About Aviation as Fixed Income
    Alternative Investments

    AIP Capital and Monroe Capital's $643M Aircraft ABS: What the Tranches Tell You About Aviation as Fixed Income

    AIP Capital and Monroe Capital closed a $643 million aircraft asset-backed securitization on July 17, 2026. It's their first joint deal, and it packages 18 aircraft leased to 12 airlines across 10 cou

    Jeff Barnes, MBA··10 min read
    Neko Health's $700M Series C: A 4x Markup in 18 Months, But Whose $7 Billion Is It?
    Venture Capital

    Neko Health's $700M Series C: A 4x Markup in 18 Months, But Whose $7 Billion Is It?

    TL;DR: Neko Health, the full-body scanning startup co-founded by Spotify's Daniel Ek, raised $700 million in a Series C led by Lightspeed Venture Partners and O.G. Venture Partners. Media outlets, not

    Jeff Barnes, MBA··10 min read
    NAV Loans in Private Equity: How Fund-Level Financing Works, and the DPI Controversy LPs Need to Watch
    Private Equity

    NAV Loans in Private Equity: How Fund-Level Financing Works, and the DPI Controversy LPs Need to Watch

    A NAV loan is a line of credit that a private equity fund borrows against the current value of the companies it already owns, not against the money its investors still owe. The market has grown to rou

    Jeff Barnes, MBA··9 min read
    LP-Led Secondaries and the NAV Discount: Why Fund Stakes Trade Below Reported Value
    Private Equity

    LP-Led Secondaries and the NAV Discount: Why Fund Stakes Trade Below Reported Value

    LPs selling private equity fund stakes in 2025 got 87% of reported NAV on average, and buyout stakes fetched 92% while venture stakes fetched just 78%, according to the Jefferies 2025 Global Secondary

    Jeff Barnes, MBA··9 min read

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