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Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
The spike in growth funds
Download PitchBook’s Report here. One of the many consequences of COVID was a shift in strategies among investors. The chart above…
Portfolio Construction: How PE Help
Many direct lenders only finance businesses backed by private equity sponsors. While non-sponsored strategies have benefits, the presence of an…
1H22 Leveraged volume down 31%; HY bonds off 75%, institutional loans down 61%
The US leveraged market dramatically slowed in 2Q22, completing just over US$292bn of loan and high yield bond volume to…
Midcaps Earn More
The middle market illiquidity premium persists for all but the briefest volatile periods.
Private Debt Intelligence - 7/4/2022
Distressed debt mega funds rising again [wpdm_package id=’56639′] Fundraising in distressed debt, a major private debt strategy, has been relatively…
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x
(Past performance is no guarantee of future results.) Contact: Steven Miller
A fast-changing asset class
Continuing our reflections on how different dynamics are being seen across private markets. In last week’s edition of Lead Left,…
Loan Stats at a Glance - 7/4/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Jumbo volume in 1H 2022 reaches $30.8 billion to bring total tally to $86.5B
Volume in the first half of 2022 for private loans sized at $1 billion or more has reached $30.8 billion,…
What level will perpetual-life BDCs AUM reach by year-end 2022?
Perpetual-life BDCs, though few in number, have accounted for the bulk of growth in BDC assets under management (AUM) this…
Portfolio Construction: Best in Breed
“What’s the key portfolio strategy managers should employ for success?” “Diversify!” That’s how one top PM answered our question. There…
Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M)
(Past performance is no guarantee of future results.) Contact: Steven Miller







Why Portfolio Construction Matters (Last of a Series)
“Broadly syndicated loans are liquid, so have high volatility that exaggerates credit deterioration,” one market observer told us recently. “The…