After a deep-dive into the various elements of the M&A market last year, a panel of five top bankers told 650 registrants of our exclusive Lead Left Presents webinar that conditions for 2023 are beginning with “wait and see.”… ▶︎ Read Feb 6 2023 newsletter: here ▶︎ Chart of the Week: here (by Leveraged Commentary […]
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 Loans with Asset Sale Sweep Step-downs (Past performance is no guarantee of future results.) Contact: Steven Miller
Downward price flexes in the institutional market are on the rise February has seen an increase in downward price flexes in the institutional loan market with 12 price cuts on first-lien term loans reported so far. This is up from the 9 reported for all January and on par with November and December totals. Midway…
Private debt deal activity declined over 2022, large managers can be selective The momentum around global private debt deal activity continues to decelerate. The number of deals fell 39.8% in 2022, to 896 deals from 1488 in 2021. Occasional peaks notwithstanding, deal value slowed from a record high of $99.8bn in Q2 2021 to $43.4bn…
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Fundraising holds up well The volume of capital gathered remained at healthy levels last year, although the number of funds closed sank to new lows. It wasn’t a record-breaking fundraising year for private debt in 2022 but, with concerns about the economy growing, there were few signs of limited partners changing their positive view of…
Over the past twelve months, as Fed rate hikes have taken hold, much attention has been paid to the denominator effect. This is the impact on investors’ portfolios as liquid asset prices have fallen, creating larger-than-anticipated allocations in other areas. For many the over-sized shares are coming in alternatives. Institutional investors set limits based on…