LevFin Insights: High-Yield Bond Statistics – 6/7/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
TheLeadLeft
Debtwire Middle-Market – 6/7/2021
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…
Already a member? Log in here
The Pulse of Private Equity – 6/7/2021
Long-dated fund market is growing Download PitchBook’s Report here. Long-dated funds are growing in popularity. A new analyst note from PitchBook takes a closer look at the growing market, generally defined as funds built to last for 15 years or more. It’s a relatively new phenomenon that started less than a decade ago, but has since…
Already a member? Log in here
Inflation Nation (Last of a Series)
“We are in a new era with the Fed. They have a new reaction function…[and] this is their first trip around the track with it.” – Anne Mathias, senior strategist, Vanguard. Inflation, or the threat of it, presents challenges for both regulators and investors. Higher inflation generally impacts fixed income assets negatively as increased rates…
Already a member? Log in here
Chart of the Week: What Inflation?
Despite the threat of higher prices, long-term interest rates have eased, supporting bonds of all stripes.
Private Debt Intelligence – 6/7/2021
Average fund size in private debt increasing in 2021 The average fund size in private debt has increased by almost $200m between 2020 and 2021 so far. In 2020, 244 funds raised aggregate capital of $160bn, resulting in an average fund size of $743m…. Subscribe to Read MoreAlready a member? Log in here...
Already a member? Log in here
Covenant Trends – 6/7/2021
Average New-Issue Clearing Spreads (Single B) and Covenant Terms for PE-Backed First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller
PDI Picks – 6/7/2021
The distressed opportunity mounts up Leveraged loan defaults have been accelerating, with companies having come under strain during the pandemic. Considering there has been a lot of talk about the delaying of the distressed opportunity as a result of companies being propped up by government support schemes, the figures in the chart above – showing…
Already a member? Log in here