TheLeadLeft
Debtwire Middle-Market – 1/31/2022
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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Private Debt Intelligence – 1/31/2022
Private debt’s expansion in Asia-Pacific Growth of Asia’s private debt industry has accelerated in recent years, as the corporate debt market shifts from a conservatively priced, bank-dominated market to a more diversified market. Total private debt AUM focused on the Asia-Pacific region jumped by 28.9% since the start of 2020… Subscribe to Read MoreAlready a
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PDI Picks – 1/31/2022
What’s the real story on Asia-Pacific? Our fundraising data for 2021 shows impressive growth on a global basis, but not so much in a region that many claim to have strong interest in. Investor interest in Asia-Pacific is clear and undeniable. That at least seems the obvious conclusion from our LP Perspectives study, which unveiled…
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Risky Loans? Think Again
For private capital veterans, the recent spate of market volatility is another opportunity to show strength relative to public asset classes. The threat of higher interest rates, abetted by spiking inflation, is now fully absorbed in the market. After a rocky week for the Dow and Nasdaq, indices firmed. But uncertainty still reigns and investors…
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Chart of the Week: Leading the Pack
Amid significant market volatility, leveraged loan performance topped other asset classes.
Loan Stats at a Glance – 1/31/2022
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
DL Deals: News & Analysis – 1/24/2022
Volatility primes more records for jumbo unitranche loans Jittery markets are priming new records for jumbo unitranche financing. At least a few mandates are in the works that exceed Galway Insurance’s $3.4 billion record last year. Expect jumbos to emerge in support of buyouts, particularly in the software, insurance and healthcare sectors. About half of…
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Leveraged Loan Insight & Analysis – 1/24/2022
Direct lending drives sponsored middle market issuance to new record Direct lending drove sponsored middle market loan issuance to new heights in 4Q21 and full-year 2021, as sponsors tapped the market at a blistering pace to fund LBOs and add-on acquisitions. Direct lending activity spiked to US$131bn in 2021, almost doubling 2020’s volume and topping…
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M&A Webinar: 2021 Review
Over five hundred registrants tuned in last week for our “Lead Left Presents” 2022 M&A Outlook webinar. Our four panelists crammed in a ton of great content into 60 minutes. Here are a few highlights. Last year was an “acceleration” of what we saw in 4Q 2020. Not just in sheer volume, but across a […]