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Private Debt Intelligence - 1/11/2021

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Record Number of Private Debt Funds in Market Private debt funds in market have reached a new record high, and there are now more find seeking for capital than ever before. The start of 2021 saw a total of 547 private debt funds on the road targeting a record $290bn in combined capital commitments…. Subscribe

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PDI Picks – 1/11/2021

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Fundraising takes a dip The pandemic has taken its toll on fundraising, but the largest managers appear to be benefitting. Unsurprisingly perhaps, private debt fundraising dropped to its lowest level in more than six years during 2020 as the effects of the coronavirus pandemic hit world markets. Preliminary data from PDI’s upcoming Fundraising Report 2020…

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SPACs - The Final Word

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As we wrap up our special SPAC series, let’s take a look at the performance of these vehicles over time. According to research firm Renaissance Capital, of the 200-plus SPACs launched since 2015, 107 have completed mergers and gone public. Shares in those issuers averaged a loss of 14%. Compare that to an average regular-way […]

Debtwire Middle-Market – 1/4/2021

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Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…

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