TheLeadLeft

Davos at the Delamar

As master of ceremonies at last week’s Greenwich Economic Forum, your correspondent had a ring-side seat at the event’s sixth annual gathering at the Delamar Hotel in Greenwich, CT. The list of speakers read like a Who’s Who of Nobel-prize winning thought-leaders in business, economics, and investments. It was hard not to be overwhelmed by…

Chart of the Week: Labor Gains

September’s unexpected new job additions of 336,000 increased Fed hike concerns. Source: U.S. Bureau of Labor Statistics(Past performance is no guarantee of future results.)

All About Secondaries (Fourth of a series)

Last week in our special series on private equity secondaries, we discussed how GPs are leveraging newly developed liquidity in that market to manage funds and assist their LPs with their specialized investment needs. Given today’s challenged capital markets it’s also tougher to extract expected values from your best properties. Sponsors are looking inwards and […]

The Pulse of Private Equity – 10/2/2023

Distressed debt fundraising Download PitchBook’s Report here. While private debt fundraising had a strong first half, distressed debt fundraising was exempt from that trend, according to PitchBook’s H1 2023 Global Private Debt Report. It’s a sudden drop-off from a trend that goes back more than a decade. Through H1, three distressed debt funds have closed worth…

All About Secondaries (Last of a Series)

At a recent private markets conference in Paris, Blackstone’s CEO Stephen Schwarzman said private equity “has just been too successful. Institutions have made so much money that all of a sudden they’ve exceeded their expected exposure.” As a result, cash-constrained investors are looking to the secondary market to sell some of their exposure. But has…

Leveraged Loan Insight & Analysis - 10/2/2023

Syndicated middle market volume sinks 31% in 3Q23 US syndicated middle market loan volume totaled US$23.6bn in 3Q23, 31% lower than 2Q23 and 41% lower year-over-year. 3Q23’s total was the lowest since 3Q20. Breaking out syndicated middle market lending, non-sponsored volume of US$18.2bn was 34% lower quarter-over-quarter, while sponsored issuance of US$5.4bn was 23% lower…