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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.
Lead Left Interview - Mitch Drucker
This week we chat with Mitchell Drucker, Managing Director of Garrison Investment Group. Mitch is the head of Garrison’s corporate…
Covenant Trends - Percentage of Deals with F&C Tranche
Contact: Steven Miller smiller@covenantreview
Soft Sell
The number of private equity software deals is growing relative to the non-software IT segment.
Private Debt Intelligence - 4/17/2017
Private Debt Fundraising in Q1 2017 by Fund Type
The private debt industry recorded a strong start to 2017, as 21 vehicles reached a final close attracting $21bn in investor capital, despite marking a downturn from the record $50bn raised in Q4 2016. However not all strategies were able to capitalise on healthy investor appetite and attract high levels of commitments.
Direct lending funds in particular drove fundraising, securing their highest quarterly total of all time…
The Pulse of Private Equity - 4/17/2017
Some LPs still keen on co-investment
In 2016, limited partners participated in no fewer than 76 US private equity transactions, the cumulative value of which hit no less than $33.8 billion, more than any other year in the past decade excepting 2007. Moreover, 2017 is off to a strong start in terms of value at least, with $9.8 billion tallied thus far across a slower-paced 13 deals. The steady upward trend since 2010 is unmistakable if volatile…
Loan Stats at a Glance - 4/17/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Elements of Corporate Risk (Second of a Series)
It’s hard to believe, but this July marks the ten-year anniversary of the collapse of Bear Stearns’ two sub-prime hedge…
State of the Capital Markets – First Quarter 2017 Review and Second Quarter 2017 Outlook
Review of Current Market Conditions/ Analysis of Capital Markets Metrics Including Covenants, Pricing, and Leverage/ Review of Credit Quality/ Outlook for Second Quarter 2017
Covenant Trends - Distribution of MFN Sunset Length in Q1 2017
Distribution of MFN Sunset Length in Q1 2017
Leveraged Loan Insight & Analysis - 4/10/2017
Cross border financings gain momentum as thin EMEA pricing attracts leveraged issuers
In a turn around from 2012-2013 market trends whereby European issuers tapped the US loan market in a bid to lock in thinner margins, a number of US leveraged issuers have turned to the European market early in 2017, to secure thinly priced deals. In contrast to the rising interest rate environment in the US, the European market is expected to keep interest rates low in the near term…
Lead Left Interview - Stephen Boyko (Part 2)
This week we continue our conversation with Stephen Boyko of Proskauer. Steve is a partner in the firm’s corporate department…
Fresh Meat
Loans involving new financings, not just repricings, represented 72% of all 1Q middle market sponsored transactions.
Private Debt Intelligence - 4/10/2017
Q1 2017 Private Debt Fundraising
After a sluggish start to 2016, private debt fundraising saw a huge acceleration in pace over the year, and secured a record $50bn of investor capital in the final quarter of the year. While the opening quarter of 2017 failed to match this activity, momentum has nonetheless continued into the year with fundraising expected to maintain or increase this pace in the coming months…









Elements of Corporate Risk (Third of a Series)
Last week’s column attracted the attention of one of our most loyal readers, and an astute observer of the credit…