Covenant Trends – 10/2/2023
Percentage of First-Lien Loans Clearing with Key Covenant Terms by Quarter (Past performance is no guarantee of future results.) Contact: Steven Miller
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LevFin Insights: High-Yield Bond Statistics – 10/2/2023
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
Private Debt Intelligence – 10/2/2023
Increase in direct lending funds in market in 2023 There were 28% more direct lending funds raising capital in June 2023 than there were a year earlier. Direct lending funds accounted for nearly half of the number of funds and capital raised within private debt in the second quarter of 2023. That proportion may rise…
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Chart of the Week: Home in the Range
High-yield bond yields for 3Q have settled into a tight range around 9%. Source: Pitchbook LCD(Past performance is no guarantee of future results.)
Debtwire Middle-Market – 10/2/2023
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.2%) that tracks the overall performance of publicly traded business development companies (BDCs, lenders to privately held middle-market businesses that tend to be…
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PDI Picks – 10/2/2023
The future is artificial A survey in our Future of Private Debt report 2023 reveals where AI is having an impact in the private funds industry. Nearly one-third of GPs identify due diligence and data analysis as the business areas in which artificial intelligence will have the greatest impact over the next five years, according…
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Loan Stats at a Glance – 10/2/2023
Source: Pitchbook LCDContact: Marina Lukatskymarina.lukatsky@pitchbook.com
All About Secondaries (Third 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 – 9/25/2023
Another strong year for private debt Download PitchBook’s Report here. Private debt fundraising is off to a strong start, according to PitchBook’s just-released H1 2023 Global Private Debt Report. At halftime, almost $95 billion has been raised across 74 funds. That pace is ahead of last year’s, which makes us confident that fundraising will eclipse $200…
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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…
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