What level will perpetual-life BDCs AUM reach by year-end 2022? Perpetual-life BDCs, though few in number, have accounted for the bulk of growth in BDC assets under management (AUM) this year. AUM in perpetual-life funds amounted to around US$55bn at the end of April, up from US$34bn at the end 2021…. Subscribe to Read MoreAlready
“What’s the key portfolio strategy managers should employ for success?” “Diversify!” That’s how one top PM answered our question. There are many levels and measures of diversity. You don’t want to be stuck with large exposures in any one industry, no matter how resilient it may seem… ▶︎ Read June 20 2022 newsletter: here ▶︎ […]
Distribution of Accordion F&C Tranche EBITDA Grower Caps (L3M) (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
Borrowing costs for high-yield issuers ease from May highs Source: Markit, BofA US HY Index As the market for high yield bonds briefly opened back up in June in tandem with a short-lived rally in the equity markets, pricing has in turn fallen from its recent highs. Primary market picing spiked in May, largely because…
Direct lending funds increasing in size Direct lending has seen strong fundraising momentum over the past decade, with funds of vintage year 2021 raising aggregate capital of $113.2bn, compared to those with vintage year 2011, which raised $8.2bn. With this, the number of direct lending funds greater than $1bn in size has also increased substantially….
On the minds of limited partners Our upcoming Fund Leaders’ Survey provides a glimpse into what investors are thinking about the key issues of the day. So what are limited partners really thinking? Multiple answers to that question may be found in the upcoming July/August issue of Private Debt Investor, where we devote a section…
Many direct lenders have oriented their platforms around financing only businesses backed by private equity sponsors. While non-sponsored strategies have certain benefits, the presence of an owner with its own separate track record, select industry experience, and deal sourcing prowess to draft behind, gives relationship lenders distinct advantages. This is particularly true when it comes…