Middle market non-sponsored syndicated M&A jumped to US$4.4bn in 3Q21 The non-sponsored middle market added another strong quarter to the books. While issuance was slightly down from 2Q21, it was a very busy summer with total volume of US$30.3bn in 3Q21. This was the highest level for a third quarter since 2014. Moreover, new money…
Of the many unanticipated consequences of Covid, one that caught our eye was the recent NYT headline: “Birds Thrived During Lockdowns.” Seems that while we were stuck at home last spring, our feathered friends were out partying. Urban areas, otherwise crowding out some species, saw hummingbirds and bald eagles return at 14 times pre-pandemic levels….
Has the decades-old secular decline of long-term interest rate yields come to an end?
Q3 was another blockbuster Download PitchBook’s Report here. No rest for the weary: PitchBook’s latest US PE Breakdown is out, and the third quarter set another new record. An estimated $297 billion was invested in Q3 across an estimated 2,227 deals. Both would be new records, as data continues to be tabulated. The value mark, $297…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
PD sees high levels of Q3 fundraising Although fundraising in Q3 is traditionally quiet, this past quarter has seen significantly higher fundraising than over the same period in previous years. Aggregate capital raised totalled $40.5bn in Q3 2021, compared to $14.3bn in the same quarter in 2020 and $28bn in 2019…. Subscribe to Read MoreAlready
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (Past performance is no guarantee of future results.) Contact: Steven Miller
Is distressed debt an old-fashioned notion? Traditional cycles may be a thing of the past – what matters is having the skills to take advantage of challenging situations. To say there’s no such thing as distressed debt any more perhaps suggests the kind of over-optimism associated with the claim that first emerged in the dotcom…