CION in 2026: M&A Pipeline, Tight Spreads and Private Credit Risk

Key Takeaways CION sees a stronger 2026 pipeline as lower rates and M&A recovery support originations and fees.Q3 income rose 32%, but tight spreads and intense private credit competition pressure returns.Non-accruals climbed since Q2 2025, making credit trends the key swing factor for 2026.CION Investment Corporation (CION) enters 2026 with two competing forces. A healthier origination backdrop could rebuild income momentum through new deployments and transaction fees. But tighter private credit terms and ...