BDC credit losses expected to top 100bp in 2023 The majority of respondents (68%) in Refinitiv LPC’s Quarterly BDC Survey expect credit losses to top 100bp in 2023, with 31% of survey participants predicting losses above 200bp. The weighted average non-accrual rate for public and private BDCs combined ended 4Q22 at 1.48%, up from 1.26%…
Private debt allocation intentions hit seven-year high Institutional investors are satisfied with their private debt allocations and plan to increase them, according to the latest survey for the latest Preqin Investor Outlook. A growing number of investors surveyed by Preqin aim to boost their long-term allocations to private debt… Subscribe to Read MoreAlready a member?
As we continue our series examining the effects of higher interest rates and a potential recession on private credit, we also now need to throw in the impact of recent bank failures. It’s clear all sorts of economic and market indicators – the Treasury curve, Treasury spreads, stock prices, to name a few – are…
Last week’s bank failures steepened the Treasury curve to levels not seen since 9/11.
US pensions dig deep We present some of the key findings from our Investor Report for 2022. US-based public pensions were among the largest allocators to private debt during 2022, though their publicly available data made it much easier to find commitment data for these institutions, making up 13 of the top 15 LPs in…
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Our friends at Lincoln International produce a superb report on private market insights from their valuations and opinions group. Derived from their database of hundreds of borrowers from portfolio valuations, it provides helpful guidance… ▶︎ Read Mar 6 2023 newsletter: here ▶︎ Chart of the Week: here (by Lincoln Proprietary Database) (Any “forward-looking” information may […]
Middle-market above pre-Covid levels Download PitchBook’s Report here. Middle-market activity came in at $443.8 billion in 2023, according to PitchBook’s just-released US PE Middle Market Report. That represents a 26% decline from 2021 levels, while deal flow declined by a smaller 21% to 3,314…. Subscribe to Read MoreAlready a member? Log in here...
Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller