LevFin Insights: High-Yield Bond Statistics – 4/10/2023
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
TheLeadLeft
Loan Stats at a Glance – 4/10/2023
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Letter from Singapore (Second of Two Parts)
Besides private credit, there’s growing volume in Singapore around private equity, real estate, and even venture capital. And investors there are researching specialty finance areas such as royalty financings, asset-backed, aviation, and legal settlement. Fundraising for APAC private debt amounted to $14 billion in 2022, a rather modest figure compared to US and Europe, but…
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Chart of the Week: Asia Rising
Asia’s non-China share of global growth is increasingly from India and the rest of APAC.
PDI Picks – 4/10/2023
The return of distressed debt Special situations are emerging as a key fund focus in the 2023 mid-market, as managers respond to growing signs of distress driven by macroeconomic conditions. Interviewed for our PDI Mid-Market Lending Report 2023, Ed Testerman, a partner at New York-based fund manager King Street Capital Management, told us there are…
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Covenant Trends – 4/10/2023
Percentage of First Lien Loans with Affected Lender Voting Protection (Past performance is no guarantee of future results.) Contact: Steven Miller
Glasses Half Full (Last of a Series)
In conversations with dozens of institutional investors over the past several months, consistent themes recur. First, there’s the sense of continually being bombarded by unexpected bad news rocking markets… ▶︎ Read Mar 27 2023 newsletter: here ▶︎ Chart of the Week: here (by Lincoln Proprietary Database (Interest Coverage Ratio = Ebitda – Capex/Actual LTM Interest)) […]
Private Debt Intelligence – 4/3/2023
Investors expect increased opportunities in distressed debt There has been a big increase in the proportion of investors seeing distressed debt and special situations as the private debt strategies presenting the best opportunities, according to Preqin’s Investor Outlook: Alternative Assets 2023. While direct lending remains attractive and is likely to continue to be the largest…
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