Private credit lenders worked hard to score wins during a tepid fourth quarter, capping a trying year marked by falling spreads and an uproarious broadly syndicated loan market fatigued of losing deals. What’s more, the US presidential election held the market captive, with some dealmakers opting to hold transactions until the country’s next chief executive became clear. In a recent Pitchbook article, Ted Denniston, Co-Head of NXT Capital, looks back at the private credit opportunities that arose in Q4, specifically in the lower middle market.