TheLeadLeft
Private Credit – Better than Ever (Last of a Series)
“If you liked private credit before, you’ll really like it now.” – Managing director of a private debt investment firm. As we wrap up our special series on the “new” private credit, let’s look at factors influencing both quantity and quality of deal flow next year. First, the economy. Recent employment numbers point to a…
Already a member? Log in here
Chart of the Week: Travel Watch
TSA checkpoint data is showing that air travel in the US remains significantly below pre-COVID levels.
Debtwire Middle-Market – 10/5/2020
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…
Already a member? Log in here
Special Report: Post-pandemic: The New Healthcare
Beginning in June 2020 The Lead Left published a series of articles on post-pandemic healthcare. This report consolidates those articles.
PDI Picks – 10/5/2020
Do the documents offer lenders hope? Borrowers have held the balance of power for some time when it comes to deal negotiations. There are signs that their grip is being loosened, if only a little. In the wake of the covid-19 crisis, it’s hard to view the positives but you should always try…. Subscribe to
Already a member? Log in here
Loan Stats at a Glance – 10/5/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
Private Credit: What Recession?
We mentioned last week the SuperReturn North America Virtual conference, where we heard participants on the pandemic’s impact on private credit terms, structures and portfolio performance. But what about new business? A lot depends on managers’ strategies. Institutional investors had expected a downturn for a while. Significant capital was raised to take advantage of fall-out […]
The Pulse of Private Equity – 9/28/2020
Big firms hardly ever fail Download PitchBook’s Report here. PitchBook’s latest analyst note, “Risks and Returns in GP Stakes Investing,” takes a granular look at the burgeoning market for GP stakes. While there are many reasons to invest in smaller PE funds as a limited partner, the research shows that buying stakes in the GPs themselves…
Already a member? Log in here
Leveraged Loan Insight & Analysis – 9/28/2020
3Q20 US loan volume lowest since 1Q10; 1-3Q20 down 29% y-o-y Against the backdrop of a second quarter that saw GDP down 30% and a relatively orderly calendar of refinancings and repayment of loan drawdowns, 3Q20 marked a surprising bounce in in the market with GDP up an expected 20-25%, a surge in the equity…
Already a member? Log in here