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Chart of the Week: Cover the Spread
First-lien middle market direct lending deals proved the best value vs. large cap and unitranches.
Private Debt Intelligence – 2/15/2021
Investors are Satisfied with Private Debt Despite a hard 2020, investors were largely satisfied with the performance of their private debt portfolios over the past 12 months. Of investors surveyed by Preqin, 83% said their private debt portfolio’s performance had exceeded or met their expectations…. Subscribe to Read MoreAlready a member? Log in here...
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Loan Stats at a Glance – 2/15/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
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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