Chart of the Week: Mission Unstoppable
Private credit AUM expected to continue steady growth, driven by direct lending. Source: Fitch Ratings, Preqin
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Private Credit – The Final Reckoning (First of a Series)
Moviegoers know that Tom Cruise “does his own stunts.” We always assumed this mostly meant riding motorcycles fast. And even watching his Mission Impossible and Top Gun acrobatics over the years, we figured riskier sequences involved some kind of green screen technology. Until we saw practice runs for his motorcycle jump on the latest MI…
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There’s a New Tariff in Town (Second of Two Parts)
One criticism of private credit goes something like this: “Sure, private credit has a pretty good track record. But that’s because it’s never been tested by a real recession.” The point is valid for most direct lenders. According to one study, only 5% of those managers were around before 2009. But during the past 16 […]
Bloomberg: Leveraged Lending Insights – 6/2/2025
US Leveraged Loans Post Largest Monthly Return Since 2023 Click here to access Bloomberg’s US Leveraged Loan Index Report After a brief pause in its long-running rally, the Bloomberg US Leveraged Loan Index (Ticker: LOAN) advanced 1.53% in May, bringing its YTD return to 1.95%. The gain follows back-to-back losses in March (-0.29%) and April…
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KBRA Direct Lending Deals: News & Analysis – 6/2/2025
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
LevFin Insights: High-Yield Bond Statistics – 6/2/2025
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Covenant Trends – 6/2/2025
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 smiller@covenantreview.com
The Pulse of Private Equity – 6/2/2025
Share of private debt capital raised by type Download PitchBook’s Report here. In Q1 2025, the distressed debt substrategy secured $21.4 billion in commitments, largely thanks to the $16 billion fund raised by Oaktree Capital Management, putting distressed debt in line to easily surpass its five-year annual average of $28.5 billion…. Subscribe to Read MoreAlready a member? Log in here...
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Middle Market & Private Credit – 6/2/2025
Private Credit’s Growing Complexity Untested Through Market Cycles Click here to download report. Private credit (PC) markets remain resilient, despite recent challenges stemming from tariff-driven market volatility, slowing economic growth and a higher policy rate trajectory than initially anticipated at the beginning of the year…. Subscribe to Read MoreAlready a member? Log in here...
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Leveraged Loan Insight & Analysis – 6/2/2025
Daily Analytic: First-lien share of BDC portfolios continues to climb The first-lien share of BDC portfolios continues to edge higher, climbing to 86.4% in 1Q25, up 4 percentage points from a year earlier and 8 percentage points two years ago…. Subscribe to Read MoreAlready a member? Log in here...
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