TheLeadLeft

The Pulse of Private Equity – 1/11/2021

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Growth rounds hit record Download PitchBook’s Report here. US PE growth activity hit a record in 2020 in terms of value, according to the 2020 Annual US PE Breakdown. At $62.5 billion, 2020 just leapfrogged 2018 by the dollar metric, even though volume hit its lowest level since 2013. The 810 transactions had an average deal…

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Private Credit: A Good 2020 Story

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December was lost in a fog of masks and Netflix bingeing. But one item that penetrated our consciousness was a superb credit webinar, courtesy Lincoln International. Their data, gleaned from over 1600 portfolio companies, are a strong proxy for private credit behavior: For example, sector performance underlined valuation advantages for less COVID-impacted industries such as […]

Leveraged Loan Insight & Analysis - 1/11/2021

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Middle market non-sponsored syndicated volume was up 65% in 4Q20 Non sponsored syndicated loan volume bounced back to total US$19.7bn in 4Q20, the highest quarterly level since 4Q19. In the last couple of years, the non-sponsored middle market had been chugging along, as corporate issuers were cautious about undertaking any expansion plans…. Subscribe to Read

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2020: A Year of Surprises (Part One)

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It’s accepted wisdom in the publishing world that magazines sell better with headlines like “The 7 Fastest Ways to Lose Weight,” “The 5 Most Awesome Martinis,” and “The 10 Hottest Vacation Spots.” Ordinarily a sophisticated finance journal such The Lead Left would never stoop to that kind of promotional gimmick. But, in the immortal words…

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Debtwire Middle-Market – 1/11/2021

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Strong start to the year for buyouts; repricings make a return Source: Debtwire Par Institutional loans backing buyout activity climbed to USD 40.2bn in 4Q20 from just USD 13.8bn in 3Q20. Despite the late-year increase in deal flow, LBO institutional loan issuance ended the year at USD 103bn, down from the USD 119bn posted in…

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