Private Credit Program – Curriculum

Curriculum Overview

The curriculum provides a structured examination of private credit and direct lending analysis. Instruction develops advanced capability in underwriting discipline, loan structuring, covenant design, risk evaluation, and portfolio level credit assessment.

Module Structure

The curriculum is delivered online through twelve structured modules. Each module includes analytical instruction, applied exercises, and case based evaluation aligned with institutional private credit practice.

Modules

Module 1.

  • Foundations of Private Credit
  • Private lending market structure
  • Participants and capital providers
  • Credit instruments and risk profiles
  • Economic context of private credit
Module 2.

  • Borrower Evaluation and Financial Assessment
  • Business model and revenue stability
  • Cash flow generation
  • Earnings quality
  • Financial resilience analysis
Module 3.

  • Credit Underwriting Discipline
  • Coverage and leverage metrics
  • Repayment capacity
  • Stress testing methodologies
  • Risk identification frameworks
Module 4.

  • Loan Structure and Economic Terms
  • Senior and subordinated instruments
  • Pricing and yield components
  • Amortization structures
  • Risk allocation implications
Module 5.

  • Covenants and Legal Structure
  • Affirmative and negative covenants
  • Financial maintenance tests
  • Documentation standards
  • Enforcement mechanisms
Module 6.

  • Collateral and Security
  • Asset based security structures
  • Lien priority and recovery hierarchy
  • Collateral valuation
  • Recovery analysis
Module 7.

  • Private Credit Strategies
  • Direct lending
  • Mezzanine and hybrid structures
  • Unitranche financing
  • Special situations credit
Module 8.

  • Credit Risk Modeling
  • Probability of default
  • Loss severity
  • Scenario analysis
  • Portfolio risk aggregation
Module 9.

  • Portfolio Construction and Allocation
  • Diversification principles
  • Exposure management
  • Ongoing monitoring frameworks
  • Performance interpretation
Module 10.

  • Monitoring and Ongoing Credit Oversight
  • Borrower reporting
  • Covenant compliance
  • Early warning indicators
  • Credit quality reassessment
Module 11.

  • Restructuring and Workout Situations
  • Distress identification
  • Renegotiation strategy
  • Recovery pathways
  • Institutional case review
Module 12.

  • Integrated Credit Case
  • Full underwriting assessment
  • Loan structure design
  • Risk evaluation
  • Credit memorandum preparation
Assessment

Assessment includes structured underwriting exercises, applied analysis, and a comprehensive credit memorandum demonstrating integrated private credit judgment.

Learning Outcomes

Participants completing the curriculum will be able to:

  • Evaluate borrowers using disciplined underwriting standards
  • Structure credit instruments aligned with risk and return objectives
  • Analyze cash flow resilience and downside scenarios
  • Assess portfolio level credit exposure
  • Produce institutional grade credit assessments