Capital beyond exchanges
Private Markets
Understand the negotiated structures, long holding periods and manager decisions behind private ownership and lending.
Explore the field
6 guides. 30 connected topics.
Every topic below links to a substantial, indexable section inside a complete pillar guide.
Private equity
- Fund structure & lifecycle→
- Buyouts & growth equity→
- Value creation→
- MOIC, IRR, DPI & TVPI→
- J-Curve & benchmarking→
Private credit
- Direct & unitranche lending→
- Mezzanine & second lien→
- Covenants & security→
- Recovery analysis→
- Special situations→
Venture capital
- Seed to Series C→
- Cap tables & dilution→
- Liquidation preferences→
- Convertible notes & SAFEs→
- Venture debt→
Featured coverage
Research and explainers.
Leveraged Buyouts Explained
How Hilton, TXU, Dell, Toys ‘R’ Us and five other deals reveal the real sources of LBO returns, exits and permanent loss.
Private Equity — Complete Guide
How private-equity funds buy, improve and exit companies—and how LP returns are measured.
Private Credit — Complete Guide
The economics, documentation and downside analysis behind non-bank private lending.
Private Equity vs Private Credit
Two private-market return patterns compared through cash flow, control and downside.
NAV Financing Explained
How loans secured against a fund’s portfolio create liquidity—and shift risk across stakeholders.
PE Continuation Funds Explained
Why a GP moves assets into a new vehicle, how LPs choose, and where conflicts arise.
Preferred Equity Explained
A hybrid claim with priority economics, negotiated protections and conditional upside.
Four cases · balanced evidence
Two outcomes that worked. Two that fell short.
Use the real result to pressure-test the guide: chronology, economics, stakeholder outcomes and primary sources are shown inside every file.
Open the complete category →India private capital in 2025: a busy market with a concentrated exit door
A source-led look at India's 2025 private-capital activity, why aggregate deal value can mislead and how public markets and secondaries shaped realised liquidity.
Read the case →What workedIndia's 2024 venture rebound: more deals, but not a return to blank-cheque funding
Bain and IVCA's 2024 data show a venture rebound led by many sub-$50 million rounds. This case examines what that means for dilution, reserves and exit expectations.
Read the case →What fell shortNAV loans: when an early distribution is funded by a new senior claim
ILPA's 2024 guidance turns NAV financing into a practical case about consent, disclosure, performance optics, covenants and the difference between an exit and borrowed liquidity.
Read the case →What fell shortContinuation funds: one asset, two sides of the same negotiating table
How continuation vehicles create liquidity and extend ownership, why GP conflicts are structural and what a selling or rolling LP should demand from the process.
Read the case →Knowledge graph
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