Revisiting the Boutique Advantage in Private Credit There is growing recognition that “scale” in private credit does not always equate to “strength.” In fact, the structural realities of the underserved North American middle market continue to reinforce why a boutique approach, when executed with discipline, can offer something genuinely different. Given recent conversations with allocators in several regions, this…
Why Process Is the Hedge That Never Goes Out of Style As we shared during our year-end webinar, 2025 closed with a market full of competing narratives. Headlines moved in every direction. Sentiment shifted weekly. And yet one reality remained constant: Disciplined credit processes continue to win, especially in private markets. Coming into 2026, we haven’t changed our view or…
What the BlackRock TCP Capital Write-Down Signals for Parts of Private Credit Summary: A recent 19% NAV decline at BlackRock TCP Capital underscores how concentrated exposures, equity-heavy restructurings, and high leverage can magnify losses in parts of private credit. It’s a reminder that outcomes across the asset class vary widely, and that conservative underwriting, modest leverage, first-lien security, and true…
Meet the Team: Erica Axani Erica Axani is an integral member of the Garrington Private Credit senior leadership team and serves as Executive Vice President and Chief Risk Officer. Her role encompasses firm-wide risk oversight, including underwriting standards, credit governance, and portfolio review. She is also a member of the firm’s Investment Committee and part of the executive team responsible…
2025 Wrap-Up 2025 was an active year for Garrington Private Credit – as we transformed our business globally. Capital Raising and Growth Initiatives Key milestones across our capital formation and distribution efforts included: The launch of Garrington Private Credit US Fund Ltd, marking our first formal engagement with the RIA and wealth management channels in the United States The launch…
Understanding Collateral Beyond Valuation In private credit, the significance of collateral is well recognized. Investors expect seniority, security, and a clear claim on assets. Given this assignment of collateral, asset-backed lending is intended to create more consistent outcomes across market cycles. Collateral is often described in simple terms. It exists, or it does not. It has a value, or it…
Where Private Credit Fits in a Portfolio For decades, the 60/40 portfolio has been the standard framework for long-term investors. Equities were expected to drive growth, while bonds provided income and stability. That structure has endured because, over long periods, it has worked. What investors have also seen is that the diversification provided by traditional assets has not been consistent…
Past Performance Is Not Indicative of Future Results, So, We Underwrite the Future, Not Assume It The familiar sentence appears across every corner of the investment world. Beneath tables, beside charts, inside offering documents. Past performance is not indicative of future results. We have seen this play out in countless ways across credit cycles: liquidity that expands and contracts, models…
The Architecture of Liquidity at Garrington In The Liquidity Advantage: What Investors Gain by Thinking Beyond Daily Access, we explored the real value behind less liquidity. This week’s blog continues that conversation. Here, we focus on how Garrington manages liquidity across its portfolios and how we plan, forecast, and structure access to ensure that investors benefit from flexibility without compromising…
The Liquidity Advantage: What Investors Gain by Thinking Beyond Daily Access At Garrington, we view liquidity not as a limitation, but as a strategic advantage when it’s planned, transparent, and aligned with the underlying tangible assets. The question we often hear “If I can sell a bond fund any day, why would I tie up capital in private credit even…
