An Expert Q&A with Jennifer Daly of Paul Hastings, LLP offering a thoughtful perspective for both borrowers and lenders in today’s private credit market. Borrowers are enjoying a borrower-friendly environment and are increasingly looking to secure flexibility to preserve cash flow, and to incorporate debt portability features into credit agreements. Private credit lenders face a highly competitive environment, where significant amounts of dry powder are creating a race for high-quality transactions, emphasizing the importance of a clear, predefined strategy. Lenders are also increasingly turning to club deals, and the strategic use of cooperation agreements to gain leverage in distressed situations is a hot topic.