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Debtwire Middle-Market – 7/4/2022

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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…

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Private Debt Intelligence - 7/4/2022

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Distressed debt mega funds rising again Fundraising in distressed debt, a major private debt strategy, has been relatively volatile over the past decade. Nevertheless, aggregate capital raised in 2021 rose to $31.7bn, compared with $14.8bn in 2011. The peak of 2020, in which fundraising hit $66.2bn, was boosted by the Oaktree Opportunities Fund XI closing…

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Covenant Trends - 7/4/2022

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Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (Past performance is no guarantee of future results.) Contact: Steven Miller

PDI Picks – 7/4/2022

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A fast-changing asset class Continuing our reflections on how different dynamics are being seen across private markets. In last week’s edition of Lead Left, we took at look a some of the key themes emerging from our Private Funds Leaders’ Survey 2022, which we published in conjunction with MUFG Investor Services. This week, in our…

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DL Deals: News & Analysis - 6/27/2022

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Jumbo volume in 1H 2022 reaches $30.8 billion to bring total tally to $86.5B Volume in the first half of 2022 for private loans sized at $1 billion or more has reached $30.8 billion, a level that dwarfs the $9.5 billion recorded in the same period last year, according to Direct Lending Deals. On a…

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