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The New M&A (Second of a Series)

As we discussed last week in our special series on the new COVID-impacted M&A world, the volume of deal flow was off sharply at the onset of the crisis. But as deal makers adjusted to the new normal of business openings (and reversed openings) across the country, conversations are now back to deal processes. What…

PE and the New Healthcare

As part of our special healthcare series we spoke with the partner of a NY-based private equity firm. He has two decades of experience investing in healthcare businesses. We asked how the current crisis unfolded for your firm? “For the first couple weeks it was 100% focus on the portfolio,” he told us. “Turned out […]

The Pulse of Private Equity – 7/20/2020

Venture-backed > PE-backed Private equity is losing its oomph as an M&A driver this year. PitchBook’s new North American M&A Report found that PE-backed M&A is now less common than venture-backed M&A, at least by volume. It’s the first switch between the two asset classes since 2009, which isn’t a coincidence. PE exits come to…

Debtwire Middle-Market – 7/20/2020

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…