Buyout loan issuance has slowed Download PitchBook’s Report here. Leveraged loan issuance slowed noticeably in Q2, according to PitchBook’s latest Quantitative Perspectives: US PE enters a new regime. While still north of historical levels, the rolling sum fell to almost $118 billion in the second quarter, down from almost $150 billion just a quarter ago. Prior…
What made Kane Tanaka so special? As the oldest living person on the planet until her passing last month, Tanaka-san was born (January 2, 1903) almost a year before the Wright Brothers’ historic first flight at Kitty Hawk. Her secret to a long life? “Being myself.” Sticking to your knitting was top of mind this…
Public equities have been down double-digits in 2022 for a variety of reasons
The old Naval Air Station in Charlestown, RI was right next to the summer house we lived in as kids. Aviators would fly training patterns over our heads, circle back to the airfield, touch wheels down, and head around again… ▶︎ Read May 30 2022 newsletter: here ▶︎ Chart of the Week: here (by Natixis, […]
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…
Flex Trends: Pricing (% of all Flexes that Decrease All-in Spread) and Covenants (% with Zero Doc Score Flex) (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
Distressed debt funds witness dry powder build-up post Covid-19 recession Dry powder for distressed debt globally has been growing over the past decade. In September 2021, dry powder made up 35% of the total distressed debt AUM – higher than its historical 10-year average of 32%. This build-up is likely due to the record capital…