Time to move out of the mainstream As the plain vanilla part of the private debt market comes under pressure, investors are turning their attention to more specialised approaches. As we usher in 2023, PDI has been canvassing industry sources to glean a sense of the prevailing mood. Some of these conversations will make their…
Growth of APAC-focused private debt AUM faster than other regions APAC-focused private debt assets under management (AUM) grew 24% in the six months from December 2021 to June 2022, standing at $92.6bn. The pace of growth surpassed both North America and Europe, which grew 10% and 4% respectively in the same period… Subscribe to Read
Will take-privates move to the middle market? Download PitchBook’s Report here. Take-private transactions tend to be of the cannonball variety. Big, splashy, destined for headline coverage—terms that aren’t really associated with the middle market. But one of our predictions for the year ahead is that take-privates will move downstream in 2023…. Subscribe to Read MoreAlready a
Syndicated middle market loan volume falls 10% in 2022 In 4Q22, syndicated middle market lending posted its lowest quarter since 1Q21 amid bouts of market volatility and economic uncertainty. Issuance declined to US$35.5bn in the most recent quarter from US$40.1bn in 3Q22 and was also far below the US$52bn posted in 4Q21. On a full-year…
Average Minimum Day-One Capped Basket Capacity, YoY (Past performance is no guarantee of future results.) Contact: Steven Miller
The beauty of good vacations, aside from their restorative powers, is the opportunity to reflect on the big picture. On the work front, that meant we moved beyond 2022 rates and recessions to a thoughtful consideration of what comes next. Part of that appraisal is how dealmakers will find ways, as they always do, to…
As prices edge down from mid-2022 highs, shelter and services remain under pressure.
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…
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com