TheLeadLeft
Private Debt Intelligence – 6/6/2022
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…
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PDI Picks – 6/6/2022
Claiming a bigger slice for alternatives A new study suggests its time for portfolio allocators to make some changes in the face of economic headwinds. A recent piece of analysis from KKR suggests that the classic 60/40 stocks/bonds portfolio construction model may have had its day in the face of a challenging new environment. The…
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Loan Stats at a Glance – 6/6/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Leveraged Loan Insight & Analysis – 5/30/2022
After a record 2021, mid-market technology sector volume totals US$5.5bn so far this year So far this year US middle market technology sector volume totals a lower US$5.5bn through mid-May. That number includes US$2.3bn of direct lender volume tallied through the end of March. This comes after a record US$34.2bn was loaned out to middle…
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Private Debt, Breakfast of Champions
Last month the FDA began a formal investigation into complaints that eating Lucky Charms was making people sick. On iwaspoisoned.com, a social media forum, thousands reported serious stomach problems after eating the popular cereal… ▶︎ Read May 23 2022 newsletter: here ▶︎ Chart of the Week: here (by Numera Analytics) (Any “forward-looking” information may include, […]
Touch and Go
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, so close we could see their orange flight suits. They would circle back to the airfield, touch wheels down, then come back around. Though we couldn’t see…
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Chart of the Week: What Recession?
Real GDP was higher at the end of the mild 2001 downturn than it was at the beginning.
The Pulse of Private Equity – 5/30/2022
Cash flows were positive last year Download PitchBook’s Report here. PE distributions outpaced capital calls in 2021, according to PitchBook’s 2022 Global Fund Performance Report. Not by much: LPs collected $13.5 billion in net cash flow last year, reflecting $572.4 billion in outbound contributions and $585.9 billion transferred back to fund investors. Both datapoints are substantially…
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Debtwire Middle-Market – 5/30/2022
Leveraged loans and HY bonds stage late-month comeback in secondary market Source: Markit, BofA US HY Index Secondary markets have been in for a rough ride year-to-date, with lleveraged oans and high yield bonds seeing significant slides in average bids on outstanding debt as macroeconomic pressures from high inflation, tightening monetary policy and supply chain…
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