Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
GPs target APAC’s emerging private debt market APAC’s nascent private debt market is witnessing significant growth, with the amount of capital targeted by direct lending funds rising to $11.7bn from 45 APAC-focused vehicles at the end of 2023, up from $7.3bn by 40 funds at the start of the year, according to Preqin data…. Subscribe
ESG’s return impact downgraded Investors overall appear to have less faith in ESG’s transformative characteristics in the long term, especially those based in the US. After a period of heightened focus on environmental, social and governance issues, LPs have begun to recalibrate their ESG strategies amid escalating political pushback against such initiatives, particularly in the…
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed) (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Fitch’s Privately Monitored Middle Market Portfolio Overview, 4Q23 In the charts above, Fitch presents aggregate data for MM companies, defined as in the area of $500 million of debt or $100 million of EBITDA or below, that it privately rates for asset managers. Interest coverage (EBITDA/interest) is estimated to have declined to 1.6x in 2023…
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
“Flight to quality” was a key theme for investors in 2023 given overall market uncertainty. Prioritizing high quality assets should always be a focus, irrespective of economic conditions. In 2024, if overall market M&A volume picks back up as expected, we believe that these winners should be very well-positioned for sustained growth… (Any “forward-looking” information […]
The bulk of private debt doesn’t start maturing until 2027, peaking in 2028. Source: KBRA DLD(Past performance is no guarantee of future results.)