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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.
High Five – 2025 Outlook (Second of a Series)
The focus now is on mostly global rather than domestic issues. Tariffs, trade, and geopolitical risks are taking center stage.…
Private Debt Intelligence - 2/3/2025
Investors stick to less risky debt strategies [wpdm_package id=’73330′] Read more in ‘Private Debt Q4 2024: Preqin Quarterly Update’ Private…
Record Month of January Sets Pace for a Busy 2025
January’s $186b of US institutional leveraged loan issuance was up $45.7b for an increase of 32.6% from the same month…
Carveouts/divestitures as a share of all US PE buyouts by quarter
Download PitchBook’s Report here. Carveouts accounted for 11.8% of all US PE buyouts in Q4 2024, a sequential quarterly increase.
Daily Analytic: Unitranche spreads tighten sharply over the last year
Unitranche pricing tightened significantly over the course of 2024, moving steadily lower in the first nine months of the year…
Real estate’s silver lining
It’s an area of investment that hasn’t had the best headlines in recent times, but debt providers believe there are…
Share of Loans with Uncapped Synergy & Cost-Savings Add-Backs
(Past performance is no guarantee of future results.)
Wide Dispersion
BSL defaults at 3Q 2024 were more than six times those in private credit. Source: Proskauer (Private Credit), Fitch Ratings…
High Five – 2025 Outlook (First of a Series)
Increased competition between banks and private credit leading to weaker terms? Not in the middle market, where terms remained investor-friendly.…
2025 Kicks off with Record Wave of Leveraged Loan Launches
At approximately $199.4b through January 29th, the new year has picked up right where 2024 left off in terms of…
Percentage of First Lien Loans with Affected Lender Voting Protection
(Past performance is no guarantee of future results.)
US industrials PE deal activity
Download PitchBook’s Report here. Industrials PE activity was relatively strong in 2024, with industrials seeing an estimated 1,799 deals and $135.8 billion in…
Total leverage on sponsored MM deals inched down in 4Q24, driven by lower junior leverage
Total leverage on sponsored middle market deals inched down to 4.70x on average in 4Q24, driven by lower junior leverage.…


High Five – 2025 Outlook (Fifth of a Series)
Number three of our five themes for 2025: “Default position: Discipline and careful portfolio construction will keep portfolios clean.” There…