KBRA Direct Lending Deals: News & Analysis – 5/19/2025
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
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Leveraged Loan Insight & Analysis – 5/19/2025
US$1.4bn of BDC loans were added to non-accrual status in 1Q25 A total of US$1.4bn of BDC loans were added to non-accrual status in 1Q25, up from roughly US$1.2bn in the prior quarter…. Subscribe to Read MoreAlready a member? Log in here...
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The Pulse of Private Equity – 5/19/2025
PE AUM ($T) forecast* Download PitchBook’s Report here. Within PE subcategories, we expect buyout funds to continue to garner the bulk of fundraising in the coming years, but growth funds have seen increasing LP interest and offer an alternative to the VC asset class…. Subscribe to Read MoreAlready a member? Log in here...
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LevFin Insights: High-Yield Bond Statistics – 5/19/2025
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
Middle Market & Private Credit – 5/19/2025
Fitch’s Privately Monitored Middle Market Portfolio Overview, 1Q25 Click here to learn more. As audits for privately monitored rating (PMR) issuers continue to roll in, Fitch forecasts revenue growth of 5.7% for 2024. Revenue growth for 2025 is likely to be pressured by rising U.S. tariffs and retaliatory measures. … Subscribe to Read MoreAlready a member?
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Covenant Trends – 5/19/2025
Distribution of MFN Sunset Horizons (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Debtwire Middle-Market – 5/19/2025
Loan bid-price collapse halts record-breaking refinancing volumes – DebtDynamics NorthAm The wave of repricing deals seen at the start of the year is not expected to return until the percentage of loans trading above par in the secondary market bounces back. … Subscribe to Read MoreAlready a member? Log in here...
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PDI Picks – 5/19/2025
Can the asset class again prove its resilience? Delegates at the recent Europe Summit heard views on how different parts of the market will weather the challenges. Our recent Private Debt Investor Europe Summit drew LPs, GPs and advisers from all corners of the globe, keen to discuss a rapidly changing environment and what they…
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Chart of the Week: Collateralized Loan Observations
Since the Fed began its rate hike regime in March 2022, MM CLO activity has grown. Source: PitchBook
Letter from Tokyo (First of a Series)
We began our visit to Tokyo this week attending S&P’s Structured Finance Seminar 2025. Along with almost 200 Japanese bankers and investors, we heard senior ratings analysts and leading CLO market participants discuss trends and outlooks for global leveraged finance, CLOs and other securitized strategies. Our panel was entitled, “Private Credit, Middle Market CLOs and…
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