APAC-focused mezzanine fundraising doubles in 2022 Private debt fundraising with a focus on APAC was buoyant between 2019 and 2021, when annual aggregate capital raised stood between $9.4bn and $12.4bn. Over $8bn has already been raised so far in 2022 , of which a record $4.1bn for mezzanine funds, almost double that of 2021…. Subscribe
YTD volume up 77%; October falls just 15.3% YoY U.S. direct lending is thriving in 2022, with year-to-date volume up 77%, according to KBRA DLD. Volume recorded through October totaled $122 billion, up from $69 billion through the same period last year. By contrast, U.S. leveraged loan and high yield volumes have tanked under steep…
In recent weeks we’ve devoted considerable space to how the Fed’s Great Unwind and rate hikes have impacted the economy, capital markets, and private credit. We’ve also examined the backdrop for growth (or recession). Our economist friends have helped sift data to guide investors on where US and global economies are headed. Finally, we’ve analyzed…
Higher spreads and increasing benchmark rate has pushed leveraged loan yields to 10%.
Priorities for the future PDI’s recent Future of Private Debt report highlighted a number of key issues raised by sources in the market. Here’s a selection of them. LPs want more flexibility in terms of fund structures: Fund managers report that investor appetite for more flexible open-ended fund structures in private debt is gathering pace….
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Exit volume decline continues Download PitchBook’s Report here. Third quarter exit volume hit its lowest point since Q2 2020, according to the Q3 US PE Breakdown. So did exit value, for that matter. All told, an estimated $293 billion has been sold off this year, which actually stacks up well against prior years. 2019, a healthy…
US LBO purchase price multiples dropped in large corporate market last quarter As concerns about the potential for a recession continue to cause heightened volatility across the market, more focus is put on enterprise valuations. Last quarter, LBO purchase price multiples in the large corporate syndicated market declined to 10.8x, the lowest since 4Q18. Of…