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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 New Order: Leverage Finance in an Asset Management World (Last of a Series)
Now that the liquid loan market is opening, albeit with mostly refinancings, larger issuers have more choices. This is actually…
Carveout activity rebounds: Why corporate owners are selling
Download PitchBook’s Report here. At the same time interest rates inflected upward for PE borrowers, earnings growth inflected downward for business…
1Q24 ABL loan volume down 76% year over year at US$15bn
US lenders completed US$15bn of asset based loan volume in 1Q24, marking the lowest quarterly total since 3Q20 during the…
Percentage of First-Lien Loans Clearing with Key Covenant Terms by Quarter
(Past performance is no guarantee of future results.)
The investor view from Asia
The need for income and the attractive risk/return profile of senior strategies are among the reasons why private debt is…
Loan Stats at a Glance - 4/15/2024
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
No Ifs, Ands, or Cuts
Market observers now think a rate cut at the Fed’s June meeting is unlikely. Source: The Daily Shot(Past performance is…
The New Order: Leverage Finance in an Asset Management World (Fourth of a Series)
Now that the liquid loan market is opening, albeit with mostly refinancings, larger issuers have more choices. This is actually…
Private Debt Intelligence - 4/8/2024
Family offices warm to Infrastructure, private debt, and hedge funds [wpdm_package id=’69378′] Private equity is the main alternative asset class…
Healthcare companies made up 36% of all Chapter 11 filings in 1Q24
Source: Debtwire Restructuring Database A guide to distress in healthcare Overall, during the first quarter of 2024, there were 35…
Percentage of Deals with 75+ bps MFN
(Past performance is no guarantee of future results.)
Median North America and Europe PE buyout EV/EBITDA multiple
Download PitchBook’s Report here. A quarter in 2024, PitchBook data shows that buyout multiples remain elevated. The trailing 12-month mark for…
1Q24 US Leveraged volume up 46% year over year; Highest quarterly total in over 2 years
US leveraged lenders completed US$347.5bn of issuance across the high yield bond and leveraged loan markets in 1Q24, a 46%…
Honey, I Shrunk the Interest Coverage Cushions
The Fed’s “higher-for-longer” has compressed leverage loan coverage ratios. Source: PitchBook | LCD(Past performance is no guarantee of future results.)



Best Practices in Private Credit (Third of a Series)
Why is portfolio construction such an important concept for analyzing private credit managers? The answer seems obvious, but it’s more…