Covenant Trends – 10/17/2022
Share of New-Issue Institutional Loans with a Pick-Your-Poison Provision by Quarter, PE-Backed vs. All (Past performance is no guarantee of future results.) Contact: Steven Miller
TheLeadLeft
PDI Picks – 10/17/2022
Caution and sense of opportunity among Europe’s LPs At our recent PDI Europe Summit, investors were considered hesitant to commit new capital but recognised good deals are there to be done. Fundraising has been something of a struggle for Europe’s GPs, as indicated by the chart above. However, there was a sense at a recent…
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Of Rates and Recessions (Second of a Series)
The Lead Left’s exclusive Lead Left webinar, ”Of Rates and Recessions: What’s Ahead for the Economy,“ aired yesterday with over 400 attendees. We will dedicate space next week summarizing the views of our three expert economists. In the meantime, let’s position that conversation with a review of the state of our economic affairs as it…
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Chart of the Week: Passing the Baton
Inflation has been squeezed out of goods, but services are carrying the ball.
Loan Stats at a Glance – 10/17/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Private Credit Trends So Far
The world is changing from one where risk-taking was rewarded, to one where it is punished if not appropriately managed. Can you be rewarded while managing today’s level of greater risk? The Fed’s withdrawal of capital and rate hikes plus liquid credit dislocation has opened a window of opportunity… ▶︎ Read Oct 3 2022 newsletter: […]
DL Deals: News & Analysis – 10/10/2022
KBRA DLD records $39B for 3Q22 volume, tops BSL & HY combined Direct lending volume topped output for liquid credit in the third quarter for the first time since KBRA DLD started tracking this data in January 2021. New issuance for US sponsored direct lending finished at $39 billion, nudging ahead of the $38 billion…
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Leveraged Loan Insight & Analysis – 10/10/2022
Syndicated middle market loan volume falls 37% q-o-q in 3Q22 3Q22 syndicated middle market loan issuance tumbled by 37% quarter over quarter amid increased economic uncertainty and market volatility. Lending activity fell to US$35bn in 3Q22 from US$55bn in 2Q22 and was also far below the US$50bn posted in 3Q21. On a year-to-date basis, issuance…
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The Pulse of Private Equity – 10/10/2022
Q3 numbers: interest rates starting to bite Download PitchBook’s Report here. PitchBook has just released the Q3 2022 US PE Breakdown, available for free here. Both deal volume and total value are now in silver medal territory, eclipsing annual numbers seen in pre-COVID years. Deal momentum has been strong enough to carry 2022 to historically impressive…
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