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…
Markets are now beginning to believe the Fed’s message in higher for longer.
PE IRRs down two quarters Download PitchBook’s Report here. Following a stalwart 2021, global PE fund returns fell swiftly in 2022, according to PitchBook’s Global Fund Performance Report. While Q1 remained positive, Q2 dipped into negative territory at -2.4%, and our preliminary Q3 numbers show another negative reading at -0.6%…. Subscribe to Read MoreAlready a member?
Returns jump across US corporate credit to start the year Total returns on US corporate credit have jumped to start the year, driven by more favorable sentiment across the capital markets, as investors react to a third straight month of declining inflation and the expectation that the Federal Reserve is closer to completing rate hikes….
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 Jan 30 2023 newsletter: here ▶︎ Chart of the Week: here (by WSJ, Jefferies, […]
Benign decline: Volume eases 14% YoY in DLD’s Private Data set KBRA DLD tracked $3.8 billion in new-issue volume last month across sponsored, U.S. borrowers. Managers said new business felt slower than usual for the start of the year, and indeed, the tally in our Private Data set was down 14% from January 2022. The…
Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com