1Q21 leveraged issuance marks four year high at US$474bn; 1Q21 HY bond volume sets new record Building on the early signs of market recovery observed in 4Q20, issuers of leveraged debt took advantage of accommodative conditions to raise nearly US$474bn in loan and high yield bond volume in 1Q21 , the second highest quarterly total…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt: Risk/Return by Fund Type Across private debt strategies, returns and return dispersion data varies greatly. Direct lending funds, which are characterized by more senior secured debt, have been a steady investment, with a median net IRR of 8.3% for vintages 2008-2017 and a standard deviation of only 5.0%…. Subscribe to Read MoreAlready a
Percentage of Loans with F&C Tranche / Pro Forma EBITDA >0.9x (Past performance is no guarantee of future results.) Contact: Steven Miller
Buy-and-build correlates to more secondary buyouts PitchBook is publishing a new analyst note next week that does a deep dive on add-ons. One of the more striking findings is a correlation between additive platforms and how they eventually exit. The more add-ons a portfolio company undergoes, the more likely it will be acquired by another…
CLO asset and liability spreads move in concert, down now below pre-Covid levels.
By blocking the Suez Canal last month, the Ever Given made headlines and created a massive shipping traffic jam. Three football fields long and weighing 250 thousand tons (by comparison, the Statue of Liberty is 125 tons), the monster container vessel represents the new global transportation reality: 90% of the world’s goods travel by sea….