Alternative Angles
Back to the future of direct lending: The alpha edge in the traditional middle market
45:40
As private credit continues to evolve and competition intensifies, where can direct lending still deliver a meaningful edge? In this episode of Alternative Angles, Host Steve Rosen sits down with Fidelity’s Head of Direct Lending, David Gaito, to explore:
How leverage, covenant structures, and underwriting discipline shape downside protection
The impact of dispersion, vintage risk, and scaling…