Content hub
Explore private capital market trends, in-depth research from leading industry partners, expert interviews, live webinars, and educational videos — all in one place.
Featured Article
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.
|
August 12, 2026 
The Pulse of Private Equity - 1/16/2017
Has US add-on activity peaked?
Last year, US private equity investors added on to extant holdings so frequently that the proportion of add-ons to all buyouts hit no less than 64%. The steady increase over the past six years, and especially the rapid surge of 3% even as overall activity fell, both speak to the increasing maturation of adding on as a PE investment strategy and its relative attraction in the current environment…
Private Debt Intelligence - 1/16/2017
Private Debt Fundraising Success, 2012 – 2016
Although private debt fundraising in 2016 did not match the levels seen in previous years, Preqin research finds that a record proportion of funds exceeded their target size. However, the year also saw funds take longer to reach a final close, on average, than in any previous year as smaller managers struggle to attract capital at the same rate as the most experienced firms.
In 2016, nearly a quarter (23%) of private debt vehicles exceeded their target size by more than 125%, while a further 38% of funds achieved 101-124% of their target…
Growing Gap
Large liquid loans have been hit with repricings, causing the illiquidity premium for the middle market to approach 200 bps – well above the historic average.
Loan Stats at a Glance - 1/16/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Leveraged Loan Insight & Analysis -1/9/2017
2016 middle market syndicated loan issuance lowest since 2009
Middle market syndicated loan issuance only reached US$139bn in 2016, down 3% from 2015 levels and the lowest annual level tracked since 2009. Several factors drove the lower levels. The non-sponsored market was the biggest culprit as issuers had no incentive to hit the market to refinance as long term financings were locked in during previous years. Furthermore, slow growth and uncertainty surrounding the economy and macro events such as…
Covenant Trends - 1/9/2017
Percentage of Loans that Cleared the Market with Uncapped Synergies and Cost Savings EBITDA Addback
Middle Market Deal Terms at a Glance - Jan 2017
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
State of the Capital Markets – Fourth Quarter 2016 Review and First Quarter 2017 Outlook
Review of Current Market Conditions/ Analysis of Capital Markets Metrics Including Covenants, Pricing, and Leverage/ Review of Credit Quality/ Outlook for First Quarter 2017
Lead Left Interview - David Petrucco, Ed Cerny, and Mark Gudis
This week we chat with David Petrucco, Ed Cerny, and Mark Gudis – founding partners of Backcast Partners Management. Backcast…
The Pulse of Private Equity - 1/9/2017
First-time US PE funds make slight comeback in 2016, but still a low portion of total fundraising
First-time private equity funds in the US amassed just shy of $7.5 billion in 2016, across 26 pools of capital. Although both figures were distinct increases from 2015 – which logged 17 first-time PE funds and $4.6 billion raised – as a proportion of total US PE fundraising, first-time fundraising activity still remains at a considerable low relative to earlier in the past decade…
Bumping Up
Reported loan activity for sponsor-related syndications rose modestly last year over 2015; private “club” volume expected to be higher.
Private Debt Intelligence - 1/9/2017
Private Debt: 2016 Fundraising Update
In 2016, the private debt industry saw a cool-off in fundraising following the banner year in 2015 when almost $100bn was raised. The year was also characterised by a concentration of capital among the larger, more experienced managers while the fundraising marketplace grew increasingly congested as investor appetite for private debt increases.
Overall, 119 funds closed globally raising a combined $74bn, with Preqin expecting these figures to rise by up to a further 10% as more information becomes available…
Loan Stats at a Glance - 1/9/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
A Year in Review (Second of a Series)
Along with the sense that mid-cap lenders can now more than hold their own against the largest investment banks in…