US private credit fundraising totals over US$35bn in 1Q23 1Q23 has been a busy one for private debt fundraising. Already this quarter there has been US$35.8bn of US middle market private credit fundraising, on pace to log the highest level since 2Q22’s US$51.4bn total. There has been a handful of multi-billion-dollar capital raises so far…
Mezzanine debt fundraising hits record in Q1 Mezzanine debt set a new record for first-quarter fundraising in 2023, with $20.7bn raised in just two months. This amount surpassed the combined total of the previous seven first quarters, which was $18.7bn. More than half the capital was raised by Goldman Sachs GS Mezzanine Partners VIII which…
This past week we visited our clients and friends in Japan. The last time we did, three months before Covid, that nation’s GDP had ended modestly down 0.2%. During 2020 it plunged 4.3%; about twice as sluggish as the US. Japan’s economy rebounded strongly in 2021 to 2.1% and slowed to 1.1% last year. Projections…
Japan’s quarterly GDP has bounced around since Covid, narrowly avoiding recession.
Few signs of waning appetite While economic pressures grab the headlines, private debt is forging ahead with investor support apparently remaining solid. There may be over-allocation issues for some investors but there are few signs that current macroeconomic pressures are translating into waning appetite for private debt…. Subscribe to Read MoreAlready a member? Log in
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
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 alternatives…. ▶︎ Read Feb 13 2023 newsletter: here ▶︎ Chart of the Week: here (by Nuveen, Bloomberg, […]
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com