PE take-private deal activity Download PitchBook’s Report here. In Q1, the number of middle-market take-private transactions saw a notable increase. We believe this reflects the cheaper valuations of public companies with small market caps relative to large caps, as well as reduced market volatility…. Login to Read More...
Infrastructure in the spotlight It’s an area of alternative assets that has retained its popularity with LPs despite the challenges experienced by fundraisers lately. Last year was notoriously tough on the fundraising trail for alternative asset classes but infrastructure debt managed to buck the trend, with affiliate title Infrastructure Investor’s Debt 30 ranking recording a…
The first half of 2024 kept us busy tracking volume in the newly energized BSL market. Remarkable, but not unexpected, was its ability with fresh capital to refinance higher-cost existing deals away from the direct lenders. Left unexplained more fully was the driver of this activity. This special series explores how collateralized loan obligations (CLOs)…
The prospect of lower interest rates has boosted new CLO issuance at a record pace. Source: CreditFlux(Past performance is no guarantee of future results.)
Source: PitchBook LCDContact: Ryan Brownryan.brown@pitchbook.com
Partnering with top-tier private equity firms also creates alignment with more defensive, growth-oriented sectors. Not coincidentally, these businesses retain the highest purchase price multiples, thereby assuring the most conservative loan-to-value ratios. Finally, these PE sponsors and their operating partners identify secular trends in industries where roll-up strategies can build long-term value. Rather than waiting to […]
Download PitchBook’s Report here. Revenue multiples saw a much more aggressive run-up to the peak reached in 2021 and a much faster descent thereafter. In Q1 2024, we saw initial signs of distressed selling and capitulation…. Login to Read More...
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.7% as of 8 July, down 100bps from the highest level in last 12 months of 11.7% in October 2023) that tracks the overall…
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
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