Q2 2025 US Leveraged Loan & Private Credit Analysis

Marina Lukatsky is a senior director and global head of credit and US private equity research, and leads the firm’s coverage of US and European leveraged loan, high-yield bond, and private credit markets. Lukatsky is responsible for developing analytics and commentary detailing trends in the global leveraged finance market. She leads a team of analysts producing weekly, monthly, and quarterly research content covering the leveraged loan and private credit markets, and regularly contributes analytical commentary to LCD News and quarterly research reports covering a wide range of leveraged loan and private credit trends.

Lukatsky holds an MBA from New York University and a bachelor’s degree in Finance from Pace University. She is based in PitchBook’s New York office.

Abby currently writes about middle-market loans and private credit for LCD. She started at LCD in 2004, writing about high-yield bonds, later turning her attention to distressed debt during the credit crisis. From 2009 to 2013, she wrote about Asia-Pacific credit markets for LCD, while based in Hong Kong. Prior to S&P Global, she was with Reuters, first as a correspondent in the Nordic region and then as a copy editor based in London.

John has written about the financial markets for more than 20 years, including coverage of the high-grade corporate bond markets since 1993. Prior to joining LCD in May 2011, John wrote for Reuters and Thomson prior to their merger, as well as IDEAglobal.

Glen Fest is a senior editor for PitchBook LCD covering the CLO market. He joined LCD in 2021 from Arizent (formerly Sourcemedia) where he was a long-time editor and reporter for publications such as Asset Securitization Report, American Banker Magazine, US Banker and Bank Technology News. He is also a former managing editor for Adweek Magazine. Fest is a journalism graduate of the University of Oklahoma.

Tim has been with LCD since 2001. He was the first to edit LCD’s news and analysis, and oversee the development of the lcdcomps.com news platform. He went on to manage the group’s IT team and application development, and he later directed LCD’s social media. Prior to joining LCD, Tim spent eight years as managing editor at LPC Reuters, where he edited the company’s flagship Gold Sheets publication, ran the US and London editorial groups, wrote news stories and oversaw league tables. Before LPC, Tim was managing editor of Bank Loan Report, where he wrote news and feature stories. He also contributed to its sister publication, Investment Dealers’ Digest.