Newsroom & Updates
Stay updated with our latest news, insights, and industry stories.
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Newsroom
ZCG’s latest news, announcements, and media highlights across our global platform.
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Insights
In-depth perspectives from our experts across private equity, credit, and consulting—exploring the trends and themes shaping markets and value creation.
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The Basis Point
May 4, 2026
PIK – the Silent Stress Indicator
Takeaway: BDC PIK income reached nearly 10% in Q4 2025, exceeding its COVID-era peak - highlighting increased reliance on non-cash interest, often consistent with rising borrower liquidity pressure. Lenders and borrowers are increasingly relying on PIK interest to preserve the optics of performing loans while quietly compounding risk.
Global Economic & Credit Market Briefing
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