Acknowledgments

There are several individuals to thank for their contributions. Jamil Baz at PIMCO directed me to the Black‐Cox model as a possible tool for measuring the impact of covenants on direct loan yields. His insight helped to shape Chapter 8. Alan Kirshenbaum at Owl Rock provided valuable direction in leverage finance for Chapter 13. And not least, the expertise and research of Jonathan Bock at Barings provided an important backdrop for the discussion of BDCs in Chapter 12.

I also acknowledge invaluable help from many professionals at Cliffwater LLC, including Eric Abelson, Mark Johnson, Pete Keliuotis, Eli Sokolov, Jeff Topor, Mark Williams, and Gabrielle Zadra.

Special thanks also go to the editors at John Wiley & Sons, Bill Falloon, executive editor, Michael Henton, senior editorial assistant, and Sharmila Srinivasan, production editor.