Even in the ordinary course of business, private equity sponsors pay ruthless attention to the cost structures of their portfolio companies. It is a time-tested tool in sponsors’ kits and often on the first page of their due diligence playbook. Covid has simultaneously raised the bar and challenged buyers in managing all aspects of companies’…
Global costs are higher to deliver goods and delays longer, thanks to Covid-related logistic challenges.
Consumer discretionary and information tech top PD As an industry, consumer discretionary has seen the largest number of private debt deals in North America since 2011, with 1768 deals and aggregate deal value of $265.7bn. This is only slightly more deals than industrials, which saw 1757 deals, but reached an aggregate deal value of just…
Canada calling The Canadian market is relatively small but trends point to significant future growth. For a long time, a handful of domestic banks have dominated the private debt market in Canada. But that is slowly starting to change. Fund managers, both local and foreign, want a bigger piece of the pie and are beefing…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
First-time fundraising bouncing back Download PitchBook’s Report here. Middle market fundraising posted a strong showing in H1, according to PitchBook’s latest US Middle Market Report. $68.4 billion was raised through June, which puts 2021 on pace to approach the 2019 record. Even if it doesn’t, the middle market is set to bounce back from a decline…
BDC newly originated second lien exposure climbs in 2Q21 BDC’s increased their second lien exposure to 12.1% of new originations in 2Q21, up from the 7.5% tracked in 1Q21. In comparison, first lien assets were relatively flat at 71.6% of originations, while equity positions slipped to 10%. At the fund level, second lien originations as a…
One of the more fascinating aspects of the past 18 months has been watching the divergent economic narratives between headlines and data. The Bureau of Labor Statistics reported a record high 10.9 million job openings in July. The three largest sectors comprising this increase were healthcare, finance, and food services. Yet there also less than […]