2025 began with a record-setting January, but gave way to a quiet March. That first-quarter progression was perhaps the most dramatic we have seen in years, as uncertainty around tariffs and the economy began to dominate the headlines.
With markets remaining borrower-friendly and a sustained need for lenders to deploy capital, hope remains that opportunities continue to emerge as the year progresses.
Learn more about Q1 performance and trends shaping the leveraged finance market in our latest report.
William Blair Leveraged Lending Index
Each quarter we ask middle-market lenders to rate overall conditions in the leveraged finance market on a scale of 1 to 5, with 5 being the most borrower-friendly conceivable.
