West Lane Partners’ Sheon Karol Featured in Mergers & Acquisitions on Evolving Private Credit Dynamics

 

Montclair, NJ – December 15, 2025 – Sheon Karol, Senior Advisor at West Lane Partners, was recently featured in Mergers & Acquisitions in an in-depth examination of evolving conditions in the private credit market.

 

The article explores how increased competition and capital inflows are reshaping lending structures and why experienced investors are responding with greater selectivity and discipline.

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As the market has grown more crowded in recent years, lenders have faced tighter spreads and heightened competition for high-quality transactions. In response, borrowers in certain segments have been able to negotiate more flexible terms, prompting seasoned participants to reassess how risk is underwritten and managed.

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“While private credit covenants traditionally have been looser than in bank lending, private credit remedies tend to be stronger,” Karol noted, pointing to structural protections that have historically differentiated private credit transactions. “An example is the use of irrevocable voting rights and the subsequent ability to flip the board.”

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At the same time, Karol observed that the influx of capital into the space has influenced deal dynamics at the upper end of the market.

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“As more available capital has flowed into private credit, increasing the competition during recent years, borrowers have been able to soften lending conditions to some extent,” he said.

 

Read the full article in Mergers & Acquisitions here.