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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.
Middle Market Deal Terms at a Glance - January 2024
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
Daily Analytic: US BSL CLO issuance falls 23% in 2023, MM/PD CLO volume more than doubles
US CLO issuance declined by 10% in 2023 to US$115.6bn, down from US$128.9bn in 2022. Notably, however, there was a…
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (M&A-Related vs. All Deals)
(Past performance is no guarantee of future results.)
Loan Stats at a Glance - 1/15/2024
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
LPs want more private debt
That’s the positive conclusion arising from our latest survey of investor attitudes toward the asset class. Every year, Private Debt…
Stairway to Heaven
Investors benefit from – and issuers work through – higher-for-longer rates. Source: LSEG LPC(Past performance is no guarantee of…
The Pulse of Private Equity – 1/8/2024
P.E Deal Activity Download PitchBook’s Report here. US PE dealmaking finished the year similar to how it started: still struggling to…
Four for ’24 (First of a Series)
2023 was characterized by several key themes in the capital markets. The Fed’s battle against inflation, the resulting impact on…
Daily Analytic: 4Q23 syndicated middle market volume declines 16% in 4Q23
US syndicated middle market loan volume totaled US$24.6bn in 4Q23, 16% lower than 3Q23’s total and the lowest quarterly level…
Allocations challenged, but sentiment is positive
Last year saw limited partners rein back on their private credit commitments, but there’s no lack of confidence in prospects…
Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans
(Past performance is no guarantee of future results.)
Loan Stats at a Glance - 1/8/2024
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
Four for ’24 (Second of a Series)
The US economy continues to roll along. December’s labor report showed 261,000 new jobs, a vigorous uptick from the 173,000…





Four for ’24 (Third of a Series)
The current brew of macro pressures and broader uncertainty have combined to fuel an intriguing effect across multiple dimensions. In…