DOWNLOAD: Private Credit Interview Guide

🎯The Ultimate Private Credit Interview Guide

Today we’re releasing something I’ve wanted to put together for a long time:
The Career.Credit In-Depth Interview Guide

This is the only interview guide dedicated exclusively to Private Credit that I’ve seen in the market. It covers:

• 10 Behavioural Questions, with example frameworks and sample answers using STAR (Situation, Task, Action, Result).

• 7 Technical Questions, from EBITDA add-backs red flags to underwriting high-leverage deals, with example responses and frameworks.

🔑 Whether you’re preparing for an Analyst role or stepping up to Principal, this guide gives you structured responses and reasoning that can be adapted directly to your own experience.

📊 League Tables — Who’s Leading in Deals?

9Fin has just released the Q2 2025 Private Credit League Tables, and the results give us a clear view of which lenders are dominating deal flow:

Q2 Snapshot:

• Audax tops the quarter with 43 deals, ahead of Antares (38) and TPG Twin Brook (33).

• Morgan Stanley and Apogem round out the top five.

LTM (Last Twelve Months):

• Antares leads decisively with 197 deals, followed by Churchill (140) and Morgan Stanley (125).

• KKR and Audax complete the top five.

These numbers underscore the growing institutionalization of direct lending and the race to capture mid-market deal share.

Full breakdown here: 9Fin League Tables

🗞 This Week in Private Credit

💰 $2bn Refinancing on the Horizon

Banks and direct lenders are circling a $2 billion refinancing package for Leaf Home, a sign of continued collaboration between banks and private credit funds on large-scale financings.
(Bloomberg)

🏢 PIMCO Outmaneuvers Apollo & KKR

In one of the most closely watched deals of the year, PIMCO secured Meta’s $29bn data center financing, edging out both Apollo and KKR. This reinforces PIMCO’s positioning as a heavyweight in mega-deal private credit.
(Bloomberg)

📦 BC Partners Targets Middle Market

BC Partners has launched a new fund aimed squarely at the US middle market, signaling that competition isn’t just for mega-deals — the mid-market remains hotly contested.
(Bloomberg)

📉 Market Pulse -The Balancing Act

DC Advisory’s H1 2025 report describes the current environment as a balancing act:

• LPs demanding liquidity

• Borrowers seeking flexibility

• Lenders competing aggressively in both the upper and middle market

The result? Creative structuring is back in vogue.
(DC Advisory Report)

💡 Career Tip of the Week

When preparing for private credit interviews, don’t just memorise technical frameworks — practice saying your answers out loud.

It’s not enough to know what to say. You need to deliver answers clearly, confidently, and concisely. Record yourself answering a few technical and behavioural questions, listen back, and refine your delivery.

📥 Free Resource of the Week

👉 Download the Career.Credit In-Depth Interview Guide (Exclusive Launch)

Have a great week, dealmakers - see you on Friday.

James