Oct 2026 ACG Raleigh Durham | Private Credit Panel

Private Credit Panel: Cracks in the US Private Credit Industry are Widening

Loans marked as non-accrual across the 20 largest publicly traded business development companies (BDCs) rose +0.8 percentage points in Q2 2026, to a median 2.8% of cost, the highest since 2017. BDCs are publicly traded firms that lend to small, mid-sized, and distressed US businesses, giving retail investors access to private credit markets. This increase means a growing share of private-credit borrowers have either stopped making payments or are at risk of defaulting on their loans. Furthermore, new funding commitments minus the value of investments repaid or sold across the 12 largest listed BDCs fell to -$2.5 billion in Q2 2025, the lowest in at least 2.5 years. This marks the 3rd consecutive quarter of negative net funding.

Meanwhile, Fitch Ratings said last week that private credit defaults rose to an all-time high in July. Stress in the $2 trillion private credit market is intensifying.

Join our panel discussion on October 22 to learn how our local BDCs and lenders are addressing these issues.

Moderator:
TBA

Panelists:
Max Greer - Principal, Salem Investment Partners
Jeff Kenna - Vice President, Concentric Investment Partners
Joseph Shylock - Vice President, SE Region Lead, PNC Business Credit
Doug Vaughn - Managing Partner, SharpVue Capital

LOCATION
NC State University Club
4200 Hillsborough St
Raleigh, NC 27607

October 22, 2026
11:30 am - 1:00 pm

PRICING

Early-Bird Registration - Deadline SEPTEMBER 24
Member $45
Non-Member $75

Regular Registration - Deadline OCTOBER 20
Member $50
Non-Member $80

Procrastination Price - Onsite (if space is available)
Member and Non-Member $100

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Due to the nature of ACG events and the guarantees that need to be given prior to the event, refunds will not be processed in the two weeks directly preceding the event, including weather-related events.

CODE OF CONDUCT

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