Appetite grows Our LP Perspectives study found record numbers of LPs are committing capital to secondaries funds in private debt. Private credit secondaries are coming of age in 2023, with more limited partners planning to commit capital to secondaries funds in private debt than ever before, and more planning to buy and sell stakes in…
In our special series last month on why private debt valuations should not be viewed through the same lens as those of public debt (“Glasses Half-Full”), we dug into the various characteristics of illiquid loans that make them particularly attractive in the current market. Now our friends at Lincoln International have published a timely report…
Asia’s non-China share of global growth is increasingly from India and the rest of APAC.
Private debt deal activity in North America sees Q1 dip Quarterly private debt deal activity in North America dropped in the first quarter of 2023. Preqin recorded 61 deals over the quarter, with a publicly reported total deal value of $0.1bn, the lowest quarterly levels in deal value in a decade. However, although deal numbers…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Percentage of Deals with 75+ bps MFN (Past performance is no guarantee of future results.) Contact: Steven Miller
US sponsored middle market direct lending volume retrenched in 1Q23 Last quarter, there was US$12.5bn of US sponsored middle market direct lending volume. This was 49% lower quarter-over-quarter, 45% lower year-over-year, and the lowest level since 2Q20. The 204 deals across both the syndicated and direct sponsored middle markets in 1Q23… Subscribe to Read MoreAlready
Very few exits in Q1 Download PitchBook’s Report here. PE exits were historically slow in Q1, according to PitchBook’s Q1 2023 US PE Breakdown. All exit ramps—corporate acquisitions, IPOs and secondary buyouts—were down significantly. SBO activity has been in a teeter totter pattern since Covid. Q4 2021 saw 318 SBOs—the most ever recorded—but was bookended by…
In our second visit to Asia this month, we again found both variety and vitality of interest among managers and investors in private markets. Two stellar industry conferences in Singapore, the PDI’s APAC Forum and Asian Private Banker’s Alternatives in Focus… ▶︎ Read Apr 3 2023 newsletter: here ▶︎ Chart of the Week: here (by […]