Private credit headlines are getting louder. But what do the numbers actually show?

In this two-part series, Nicholas Marshi, editor of the BDC Credit Reporter, takes a data-driven look at public BDC credit performance in Q1 2026 compared with Q4 2025. Using data provided by SOLVE Workstation | BDC Data, Marshi cuts through the noise to assess where credit stress is building, where performance remains steady, and why the picture is more nuanced than the headlines suggest.

Read the two-part series to see what the data says about the health of public BDC credit in Q1 2026:

• Part 1: Public BDC Performance in the IQ 2026 Vs IVQ 2025
• Part 2: Public BDC Credit Performance in the IQ 2026 vs IVQ 2025. Second in a series

What you’ll learn

• How public BDC portfolio values shifted from Q4 2025 to Q1 2026

• Why the gap between cost and fair market value widened across the sector

• Which portion of the BDC universe is showing meaningful credit pressure

• How distressed-level investments are distributed across public BDC portfolios

Powered by SOLVE data. Interpreted by an independent credit expert.

The BDC Credit Reporter uses data from SOLVE Workstation | BDC Data to identify patterns across thousands of BDC-financed companies and investments. Nicholas Marshi brings independent analysis and market context to the numbers, helping readers move beyond sentiment and into evidence-based credit insight.