About this course
This introductory course builds the working knowledge needed to operate across the private debt landscape, with a focus on direct lending, credit analysis, and valuation. Participants will learn how to estimate debt capacity, analyze credit risk, and evaluate private debt investments using the frameworks lenders and investors apply in practice.
You will learn how distressed lending, mezzanine, and asset-based strategies differ from traditional direct lending, as well as how to read term sheets, structure covenants, and evaluate deals using the fees, spreads, and IRR metrics that drive private credit returns.
What you will learn
Private Debt Market Overview
- Private credit compared to public debt markets
- Evolution of the asset class over time
- Market participants and ecosystem
- Market size, trends, and outlook
Direct Lending
- Key terms
- Estimating debt capacity using cash flow lending
- Private debt credit analysis
- Private debt valuation
- Private debt liquidation analysis
Distressed Lending and Special Situations
- Key terms
- Investing in companies facing operating or liquidity challenges
- Workout strategies and recovery analysis
Opportunistic Credit and Hybrid Strategies
- Mezzanine investing
- Preferred equity and convertible structures
Asset-Backed and Specialty Financing
- Venture debt
- Infrastructure and project finance
Deal Structuring and Key Terms
- Covenants: maintenance vs. incurrence
- Fees, spreads, and IRR
- Term sheet walkthroughs
- Emerging Regulatory Scrutiny
Recent reviews
I don't know how he did it, but Dave manages to keep me engaged for an 8-hour training course! He's an excellent instructor, I'd love to take another class with him.