With traditional fixed income returns negative year-to-date, investors understand that something must be done. However, investing with a single manager who holds perhaps twenty loans that do not trade is not the solution. Unfortunately, that is what some institutional investors are doing when investing in middle market direct lending, an area that has seen significant recent in-flows. The purpose of this paper is to outline why mid-market direct lending can provide accretive diversification and be part of the answer, but only if structured appropriately. We also introduce a more attractive solution: broader private credit.