Founder-backed M&A is doing better Download PitchBook’s Report here. Founder-owned businesses are more motivated to sell in the current environment. PitchBook’s latest Analyst Note, Founder-Owned Businesses are Attractive M&A Targets, found a sharp uptick for “nonbacked sellers”—companies with no private backing or corporate ownership. Companies backed by PE firms are, for the most part, on the…
Investors steer clear of riskier assets Source: Debtwire Par Debt issued in the institutional leveraged loan market has shifted back towards the favor of double B facilities over single B rated tranches. So far in 2023, almost 40% of activity has been double B rated, marking the highest percentage in the last five years. The…
In our various overseas meetings over the past six months with institutional investors in the Middle East, Japan, UK, Germany, Belgium, Switzerland, Singapore and, most recently, Australia, consistent themes arise… ▶︎ Read May 15 2023 newsletter: here ▶︎ Chart of the Week: here (by Investment Magazine) (Any “forward-looking” information may include, among other things, projections, […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (Past performance is no guarantee of future results.) Contact: Steven Miller
BDC first-lien debt valuations increased but second-lien and subordinated marks fell in 1Q23 BDC first-lien debt valuations climbed but second-lien and subordinated debt marks fell in 1Q23. The weighted average mark on BDC first-lien debt holdings increased by 25bp, to 96.59% in the most recent quarter. In contrast, second-lien and subordinated debt declined by 18bp…
North America attracts lion’s share of private debt fundraising in Q1 2023 North America emerged as the leading region for private debt fundraising in the first quarter of this year. A total of 17 funds with a North American focus raised $29.4bn, overshadowing the next most popular region, the nine Europe-focused funds that raised $5.5bn….
Our APAC tour continued last week with a stop in Seoul, South Korea. There our investors, partners, associates, and friends were eager to hear our message on markets and how private credit fits into the current climate. Korea’s overhanging long-term geopolitical issue, according to local sources, is what to do with China. It’s an economic…