We conclude our special series on private market valuation myths with: Myth 3: Leveraged capital structures lead to conflicts of interest amongst private equity sponsors and lenders that can create negative outcomes and lower valuations… ▶︎ Read May 1 2023 newsletter: here ▶︎ Chart of the Week: here (by Lincoln Proprietary Database) (Any “forward-looking” information […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Source: SPP Capital Partners Contact: Stefan Shaffer sshaffer@sppcapital.com
Interest coverage ratios on new loans remain well below year-ago levels Against a backdrop of sharply higher interest rates in the last year, interest coverage ratios have moved lower. The average interest coverage ratio of 2.45x on new middle market sponsored deals in 1Q23 was well below the 3.07x posted a year earlier… Subscribe to
In our continuing series on global private credit, we next cover the history and outlook for the asset class in Australia. In a visit to Melbourne and Sydney last week, we met with a number of clients and firms with exposure, appetite, or interest in private debt. What became clear in these conversations was how…
Australia’s credit growth has been slowing since peaking late last year.
Distressed debt fundraising up as GPs seek $66.5bn Distressed debt funds are seeing more interest from LPs in the wake of recent bank collapses and a persistently challenging operating environment. While seven distressed debt funds closed in the first quarter of 2023, raising a total of $5.2bn, Preqin is currently tracking 85 distressed debt funds…
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Percentage of Loans with an MFN Sunset (Past performance is no guarantee of future results.) Contact: Steven Miller