Raghav Khanna

Managing Director in Oaktree's Global Private Debt strategy with expertise in private credit underwriting, portfolio risk assessment, and structured credit solutions.

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Feb 1, 2026 • 1h 1min

Is the Age of Reckless Lending Coming To An End? | Oaktree’s Raghav Khanna on Private Credit, Software, and How Oaktree Correctly Saw First Brands' Red Flags

Raghav Khanna, Managing Director at Oaktree specializing in private debt and structured credit, breaks down modern lending risks. He discusses how Oaktree spotted First Brands' red flags. Short takes cover underwriting beyond KPIs, pitfalls of adjusted EBITDA, PIKs masking stress, risks in software/SaaS, and how private credit vintages and liquidity dynamics are evolving.

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