The Pulse of Private Equity – 5/27/2024

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Private credit continues to dominate the number of buyout financings while lending from public business development companies (BDCs) suggests direct lending may have bottomed in H2 2023, but competition is increasing, leading to private lenders having to lower their prices to secure deals. It is possible buyout activity may begin ticking up more, but leverage constraints may be the key inhibiting factor that continues to exert a dampening effect and shan’t subside until monetary policy changes.