easy · Private Credit loan-structures-instruments
A fund has $100,000,000 of 'Dry Powder'. What does this term indicate?
- Capital that has been committed by LPs but not yet called or invested by the GP.
- Loans that have defaulted and are currently in the workout process.
- The total amount of interest income that has been accrued as PIK.
- The amount of cash sitting in portfolio company bank accounts to cover interest.
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