The Daily Briefing That Unlocks Private Markets.

Trusted by capital allocators, family offices, and 40k+ serious investors who don’t chase headlines, they anticipate what comes next.

Private Markets Digest connects the dots that matter across private equity, venture capital, private credit, and banking.

May 12, 2026

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5 min read

Run Your Book Against the NACHO Trade

The NACHO trade prices Hormuz closure as the base case, Nvidia's exclusion signals the chip constraint surviving Beijing, and ServiceNow's $4 billion bond tests whether the software rout crossed into credit.

Dio Pouerie, +1

The Private Credit Rescue Nobody Saw Coming

May 11, 2026

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5 min read

The Private Credit Rescue Nobody Saw Coming

A $560 million fund loss triggered a rescue. Hormuz costs grow every seven days. OpenAI named its first acquisition.

Dio Pouerie, +1

Check What Your Private Credit Marks Are Hiding

May 11, 2026

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5 min read

Check What Your Private Credit Marks Are Hiding

Apollo is trying to sell its stressed BDC rather than hold it through the repricing. Cerebras priced 20x oversubscribed into a single-customer concentration. Goldman named $400 billion in new hyperscaler debt.

Dio Pouerie, +1

Five Questions the Market Has to Answer This Week.

May 10, 2026

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5 min read

Five Questions the Market Has to Answer This Week.

Last week built the case. This week the data and earnings decide whether it holds.

Dio Pouerie, +1

Five Cracks in Seven Days. Here Is What the Week Actually Said.

May 9, 2026

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6 min read

Five Cracks in Seven Days. Here Is What the Week Actually Said.

The private credit sequence closed. The rate path hardened. The energy physical gap got a number. And the financial sector priced what the marks have not.

Dio Pouerie, +1

May 8, 2026

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4 min read

SoftBank Cut the OpenAI Loan by 40%.

Lenders priced the OpenAI confidence gap. AI inflation runs independent of Hormuz. Consumer sentiment hit a fresh record low.

Dio Pouerie, +1

The Daily Briefing That Unlocks Private Markets.

Run Your Book Against the NACHO Trade

The Private Credit Rescue Nobody Saw Coming

Check What Your Private Credit Marks Are Hiding

Five Questions the Market Has to Answer This Week.

Five Cracks in Seven Days. Here Is What the Week Actually Said.

SoftBank Cut the OpenAI Loan by 40%.

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