In case you missed it, read last week’s issue here

Private Credit Firms Rival Traditional Banks

Apollo, Blackstone, and Ares are now lending at record levels—stepping in where big banks have pulled back.
Why it matters: The rise of private credit means more opportunities in direct lending, debt investing, and credit risk roles.

Tip: Learn how credit underwriting differs from equity investing—it’s a hot skill in PE and asset management right now.

Global Markets Brace for Potential Rate Cuts

Central banks in Europe and Canada have signaled possible rate cuts as inflation cools. The U.S. Fed remains cautious, but dovish sentiment is spreading. It’s important to always be aware of movement such as this, rate cuts change everything—discount rates, borrowing costs, and asset valuations

Student Takeaway: In interviews, be able to explain how lower interest rates affect DCF models and LBO returns.

Definition: Working Capital = Current Assets – Current Liabilities
It’s a measure of a company’s short-term financial health and operational efficiency.
Example: If a company has $120M in current assets (cash, A/R, inventory) and $90M in current liabilities (A/P, accrued expenses):

Working Capital = $120M – $90M = $30M

Why Working Capital Matters: In DCFs and LBOs, changes in working capital affect free cash flow. An increase in working capital = use of cash (e.g., building up inventory).
It’s a common interview question in IB and corporate finance roles.

Start a personal log where you summarize deals you read about—include the company, buyer/seller, deal rationale, and financing method.
Why? It helps you develop pattern recognition and makes deal talk easier in interviews.

Pro tip: Even 2–3 deals per week builds a strong base. Try using summaries from WSJ’s “Deals” section or Mergermarket alerts.

Finance recruiting rewards the prepared. Whether it’s understanding private credit trends or practicing how to explain EV, small wins now compound into big outcomes later. Stay focused, stay sharp, and stay consistent.

💡 This summer is your edge—make every week count.

Welcome to Campus Capital. Each week, we’ll break down the finance world in 5 minutes or less.
Got feedback or questions? Hit reply and let us know what you want to learn.

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My name is Braunsen Bax, I’m a finance and accounting student-athlete at North Central College in Naperville, Illinois (45 mins outside of Chicago). I graduated from Walton High School in Marietta Georgia. Outside of the classroom I compete in the throws events for the Track & Field team, 35 time NCAA DIII national champions. I’ve had a love of finance and the business world since my sophomore year of high school and started Campus Capital to share that love with my community and like minded individuals in a similar position, with similar goals. My mission is to help people like me shape their futures to ensure they reach their goals while being up to date and educated in the Finance industry.