Why Direct Lending Is Replacing Mezzanine Debt
The private debt market has undergone significant transformation over the past decade, with direct lending rapidly emerging as the dominant financing option for middle-market companies. Traditionally, mezzanine debt played a key role in funding leveraged buyouts (LBOs), recapitalizations, and growth initiatives. However, direct lending has steadily gained traction, surpassing mezzanine debt as the preferred source … Continued