BDC visible loans benchmark edges lower year-to-date Valuations of actively marked BDC loans have edged marginally lower so far in 2022, continuing the trend seen in 4Q21. This follows a sharp appreciation in valuations during the 1-3Q21 time-period as companies bounced back from COVID hit 2020. The Refinitiv LPC BDC Visible Loans Benchmark (comprised of…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
High yield bond market activity cools in January as demand wanes Source: Debtwire Par The high-yield (HY) bond market has seen a muted start to the new year, with issuance of USD 16.9bn across 24 deals in January. While this represents an improvement over the December 2021 trough of only USD 9.3bn, the two-month span…
Percentage of Loans with an MFN Sunset (Past performance is no guarantee of future results.) Contact: Steven Miller
Private debt dealflow in Canada dries up during COVID Momentum in Canada’s private debt market has all but disappeared over the past two years. The number of investments fell from 64 in 2020 to 40 in 2021. Deal value (US$) has slumped from a recent high of $10.8bn in 2019 to $4.1bn in 2020 and…
The secondaries puzzle There are signs of growth in the debt secondaries market, but investors appear less then enthusiastic about new commitments. Nearly all the indicators seem to be going one way: increased appetite for private credit secondaries. In this context, the record $1.4 billion fundraising for Coller Capital’s Credit Opportunities I fund last week…
We caught up recently with our chief investment strategist at Nuveen, Brian Nick, for a conversation on markets and the economy: “We are at an inflection point in two important respects; first, 4Q was the best quarter of 2021 from a GDP perspective. Last year growth was 5.5%, best since 1984. But even if we…