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Leveraged Loan Insight & Analysis - 3/14/2022

How big of a unitranche could we see this year? The “mega-unitranche” reached new scale in 2021, as private lenders’ capacity to finance large transactions continued to increase. Unitranche loan issuance exploded to US$151bn in 2021, from US$41.5bn the prior year. This included US$86bn of large corporate unitranches, up from US$18bn the prior year…. Subscribe

The Pulse of Private Equity – 3/14/2022

A big year for the middle market Download PitchBook’s Report here. Like the broader PE landscape, the US middle market was well into record territory in 2021. According to PitchBook’s just-released 2021 Annual Middle Market Report, more than 4,000 deals were struck for the first time. It was also the first time deal flow eclipsed 3,000…

Capital Markets Outlook: ESG Today

Increased focus on #ESG has mirrored the rise of private credit as an established asset class. This may not be a coincidence. The examination of environmental, social and governance factors as part of risk management has a long history in private credit given its illiquid nature… ▶︎ Read Mar 7 2022 newsletter: here ▶︎ Chart […]

PDI Picks – 3/14/2022

Why large-scale distress may be back in fashion For big distressed debt funds, identifying sufficient dealflow has been a challenge. But do such investors now have a ‘perfect storm’? With the world in a state of flux, it seems an appropriate time to revisit the distressed market and see whether there is a sense that…

Private Debt Intelligence - 3/14/2022

Private debt firms behind the curve on D&I Just 11% of private debt fund managers (251 out of 2,225) have public diversity and inclusion (D&I) policies or initiatives in place, according to Preqin Pro. This puts them third amongst alternative asset classes, behind both infrastructure (21%) and natural resources (17%)…. Subscribe to Read MoreAlready a