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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.

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    Taking your PIK

    The influence of the payment-in-kind option in private debt transactions is on the rise. There was a time when a…

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    Fitch Private Middle Market MBCO Portfolio: 2Q23

    Fitch’s Private Middle Market, Model-Based Credit Opinion (MBCO) Portfolio, 2Q23 Fitch’s privately covered middle market (MM) portfolio is comprised of…

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    The Market Now

    Our last Market Now series came in March 2022 after Covid had peaked and begun to fade, when Russia invaded…

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    Are PE valuations normalizing – finally?

    Although not directly comparable, contextualizing PE dealmaking metrics to broader market figures is instructive. As noted in PitchBook research for…

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    Derisking remains key focus for loan issuers and investors alike

    Source: Debtwire There has been a striking 70% year-on-year decrease in new money institutional activity in the loan market following…

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    Stat of the Week: U.S. Median Monthly Rent

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    Fitch’s Private Middle Market Portfolio, Rating Activity

    Upgrades/downgrades within Fitch’s private MM portfolio are generally skewed toward downgrades, as issuer ratings can be constrained on the upside…

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    Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed)

    (Past performance is no guarantee of future results.) Contact: Steven Miller

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    BDC assets under management top US$290bn

    BDC assets under management continued to climb in 2Q23 and now top US$290bn. This represents a 3.8% gain from the…

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    Select Deals in the Market - 8/14/2023

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    Private Debt Intelligence - 8/14/2023

    Private debt fundraising rebounds in Q2 2023 [wpdm_package id=’65863′] After weak figures in the first quarter of 2023, private debt…

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    A Word About Bonds

    ”The bond market is the most important market in the world. It is the backbone of all other markets.” –…

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    High Grade Problem

    Investment grade bond issuers are paying more, but activity remains strong.

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    Infrastructure seeks to weather the storm

    When the economy turns, infrastructure investment has often been seen as a safe harbour from tailwinds affecting other parts of…

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    Loan Stats at a Glance - 8/14/2023

    Contact: Marina Lukatskymarina.lukatsky@pitchbook.com

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    The Case for Junior Capital (Last of Four Parts)

    In early 2020, just before Covid came crashing down on our heads, we were in the middle of a Lead…

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