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Private Debt Intelligence – 5/2/2022
Special situations fundraising momentum slows Special situations is a niche – but important – segment of the private debt market and attracted interest during the COVID-19 pandemic. Have investors now cooled on the strategy? Early indications from Preqin data suggest that may be the case…. Subscribe to Read MoreAlready a member? Log in here...
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Why ESG Matters (Sixth of a Series)
So far in this special series we’ve outlined the history of the ESG movement, its complexities and challenges, and current themes in climate and social change, and governance. It’s clear that compelling dynamics are behind ESG in all its aspects. It’s also evident that defining, let alone organizing or regulating, such a multi-dimensional entity goes…
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Covenant Trends – 5/2/2022
Percentage of Loans that Allow Uncapped Synergies & Cost Savings EBITDA Adjustments, Sponsored v Non-Sponsored (LTM) (Past performance is no guarantee of future results.) Contact: Steven Miller
PDI Picks – 5/2/2022
Placing a bet on litigation Litigation finance has found a way to attract the retail investor. On the face of it, litigation financiers are not obvious candidates to join the massed ranks of those queuing up to try and attract retail investment. After all, there are those who say you may as well place your…
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Loan Stats at a Glance – 5/2/2022
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
The Pulse of Private Equity – 4/25/2022
A lackluster start for exits Download PitchBook’s Report here. PE exits came in lower in Q1 than what we’ve become accustomed to. PitchBook’s Q1 US PE Breakdown Report found about $90 billion worth of sales, the slowest quarter since deal markets revved up in Q4 2020. $90 billion isn’t low on a historical basis; it’s in…
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DL Deals: News & Analysis – 4/25/2022
Direct lenders usher in new records for jumbos, recurring rev deals Competition between liquid and illiquid debt financing is heating up amid broader economic uncertainty generated by rising inflation, interest rate hikes and the war in Ukraine. Software company Kaseya surfaced this month with a $3.7 billion jumbo unitranche loan to kick Galway Insurance’s $3.4…
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Debtwire Middle-Market – 4/25/2022
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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Leveraged Loan Insight & Analysis – 4/25/2022
US unitranche leverage edges lower, spreads tick higher in 1Q22 First quarter 2022 US unitranche volume pulled back sharply in both the middle market and large corporate markets as lenders took a breather from the record-setting pace seen in 2H21. Unitranche issuance totaled US$10.1bn in the middle market and US$9.8bn in the large corporate market…
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