Loan Stats at a Glance – 2/15/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
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PDI Picks – 2/15/2021
Asia Pacific wakes up to private debt From having tentatively dipped their toes into private debt’s waters, investors based in Asia Pacific have been bravely wading in over the last few years. Limited partners based in Korea in particular have found private debt much to their liking, especially funds that are positioned more towards the…
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Leveraged Loan Insight & Analysis – 2/8/2021
BDC Visible Loans Benchmark now bid above pre-Covid levels The BDC Visible Loans Benchmark has continued to climb higher, reaching the 93.65 level on Friday. The BDC secondary cohort comprises BDC holdings with active mark-to-market pricing by Refinitiv’s pricing service. Friday’s level was higher than the pre-Covid mark of 92.66 in January 2020…. Subscribe to
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DL Deals: News & Analysis – 2/8/2021
January volume soars on LBOs; Unitranche to feel broader pricing pressures January’s direct lending tally set a new high, up from the previous record in December. Momentum from the fourth quarter’s catch up rally continued to spill into the New Year, however deal flow has since decelerated to normal this month…. Subscribe to Read MoreAlready
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The Pulse of Private Equity – 2/8/2021
Private debt is becoming top-heavy Download PitchBook’s Report here. Private debt funds have grown much larger over the past two years, according to PitchBook’s latest Global Private Debt Report. Larger funds naturally dominate the charts – by dollars raised, $1B+ funds accounted for almost 80% of all debt fundraising in 2020…. Subscribe to Read MoreAlready a
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2020: A Year of Surprises (Last of a Series)
We conclude our special series, “Five Biggest Private Capital Surprises of 2020,” with: Surprise #5: The M&A Big Bang Last July we published a white paper (see “COVID-19 and M&A Activity”) showcasing conversations with leading middle market investment bankers. They reported distinctions between businesses hit by the pandemic and those depending less on the consumer…
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Covenant Trends – 2/8/2021
Average Minimum Day-One Capped Basket Capacity, Quarterly Contact: Steven Miller
Private Credit – Industries Matter
We continue our special series with the fourth of our “Five Biggest Private Capital Surprises of 2020:” Surprise #4: Which Industries Mattered? For experienced credit managers, diversity is a key investing principle. The question coming into last March’s downturn was, have we made the right decisions on industries to lean into and out of? Generalists […]
Chart of the Week: Buy Often, Sell Often
A “whopping” 85% of direct lenders characterized deal flow expectations as equal or better than pre-Covid levels.
