Macro & Market Views

Quarterly Views from First Eagle Direct Lending Team: 2Q26

Quarterly Views from First Eagle Direct Lending Team: 2Q26

Underwriting in the Age of AI

Michelle Handy, chief investment officer of direct lending at Napier Park Global Capital, discusses how evaluating technology risk has always been a critical component of the underwriting process amid concerns about the disruption of artificial intelligence (AI). She also explains the importance of assessing risks upfront since direct lending is illiquid and cannot easily be exited.