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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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August 12, 2026 
Private Debt Intelligence - 7/24/2023
Private debt fundraising in North America holds up amid macroeconomic uncertainty [wpdm_package id=’65553′] The number of private debt funds closing…
How Have BDCs Performed Due to Rapidly Rising Interest Rates?
BDCs were well positioned to benefit from rising rates, given largely floating rate portfolios and the increase in fixed-rate funding…
Fundraising: Down but not out
Capital raising has proved a tough task so far this year, but investor support may be about to return. On…
KBRA DLD Default Forecasts for Liquid Credit: 3.25% ($45B) for HY, 4.5% ($65B) for BSL
Chart I Chart II KBRA DLD is forecasting a 3.25% default rate by volume (4% by number) for high yield…
Loan Stats at a Glance - 7/24/2023
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Another mixed quarter
Download PitchBook’s Report here. US PE activity brought in mixed results in Q2, with deal volume up slightly and value down…
The Case for Junior Capital (Part One)
Back in December 2015 the senior debt market was in full swing recovery from the Great Recession. Interest rates were…
US sponsored middle market direct lending volume increased in 2Q23
Activity picked up in the US middle market direct lending space in 2Q23 but remained at lower levels. At US$16.3bn,…
Average EBITDA Adjustment Cap for Synergies & Cost Savings
(Past performance is no guarantee of future results.) Contact: Steven Miller
Private Debt Intelligence - 7/17/2023
Emerging market private debt dealmaking remains steady [wpdm_package id=’65460′] As emerging markets continue to develop their private debt markets, they…
Yield of Dreams
Consistent with senior debt trends, junior debt yields are up, leverage down.
Default Outlook for Middle Market
Fitch recorded eight defaults in our Private Monitored Rating (PMR) portfolio in 2022, down from the pandemic-affected years of 2020…
KBRA DLD Default Index: 2023 forecast is 2.5% for sponsored deals
Table 1 Chart 1 KBRA DLD’s 2023 default forecast is 2.5% for sponsor-backed direct lending loans, equating to roughly 30…
The Case for Junior Capital (Part Two)
We continue our discussion this week on why private mezzanine is going from strength to strength amid current economic and…