The Rise of ESG in Private Debt Although private equity funds continue to dominate the ESG opportunity set, private debt has found its way to embrace ESG. Since 2011, 450 funds have come to market and $346bn has been raised – but 2020 has been a big year for the asset class…. Subscribe to Read
There may be trouble ahead Investors have taken comfort from private debt’s response to the crisis, but economic turmoil still lies in wait. There are certainly some very different views in the market as to how quickly the next wave of distressed opportunity is likely to materialise. As we have reported previously in Lead Left,…
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…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Besides COVID, the elections, and what the fifth instalment of the Scream series will be called (it’s not Scream 5), what’s getting the most attention is SPACs, or special purpose acquisition companies. These are publicly traded shells with cash looking to buy businesses. SPACs were originally designed to help smaller companies access public equity. For […]
Institutional loan issuance slips in November, new money share increases Source: Debtwire Par Institutional loan issuance dropped off in November, recording just USD 25.4bn this month, down 56% from the October figure. The month got off to a slow start thanks to uncertainty surrounding the US presidential election, registering just USD 5.8bn through 9 November,…
Pricing widens significantly for borrowing base E&P revolvers in 2020 Lending to the oil and gas upstream sector at US$17.3bn is down 78% so far this year from the total logged in 2019. With most of the lending to this sector coming from banks through reserve-based revolvers, many issuers have seen the availability tighten under…
A comeback for first-timers? Now that we’re in December, PitchBook’s annual PE Outlook is around the corner and we’re wading back into prediction mode for the year ahead. One trend we’re keeping a close eye on is first-time fundraising, which, to say the least, hit a snag in 2020. Through late November, 24 first-time funds…
Distribution of Synergies & Cost Savings EBITDA Addback Time Horizons (for Actions Resulting in Addbacks) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com