Private debt, compared to private equity and real estate, is a relatively recent entrant to the alternative asset class. But that market has grown faster than others over the past decade. In 2007, just before the Great Recession, private debt AUM measured less than $200 billion. Today the universe of illiquid credit is $900 billion…
While Libor has slumped since 2018, Libor floors and direct lending spreads have remained in a range.
SBO share of buyout issuance slips Source: Debtwire Par Sponsor-to-sponsor buyouts have been commonplace in the first several months of 2021, accounting for roughly 32% of buyout-related leveraged loan issuance. While buyout activity set records in 1Q21 in terms of both deal value (USD 161bn) and count (485 deals), according to Mergermarket, leveraged loans issued…
Distressed debt funds average largest targeted fund size Although distressed debt strategies account for only 10.1% of 592 private debt funds in market, they are targeting 19.3% of aggregate capital. Distressed debt funds have the biggest average target fund size, at $1.4bn. By contrast, venture debt funds are 7.1% of the number of funds, but…
Average Total Deleveraging Required To Meet RP Ratio Test (Past performance is no guarantee of future results.) Contact: Steven Miller
Secure Home Holdings Plan to Hand Equity to 1L Lenders Secure Home Holdings LLC and various affiliates, including My Alarm Center LLC, which provides security and smart home automation to residential and small-business customers throughout the United States, and ACA Security Systems LP, a customized home security services provider provider, filed for chapter 11 protection…
Can Europe close the fundraising gap? Our fundraising data show North America pulling clear as the favourite investor destination. However, Europe’s relative decline may not be long-lasting. Over the last couple of weeks in this column, we have reflected on a couple of the key themes arising from our Q1 2021 fundraising data. The first…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com