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Debtwire Middle-Market – 4/6/2020

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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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The Great Stay-In (Fifth of a Series)

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“As goes COVID-19, so goes the nation.” Paraphrasing the famous 1950’s dictum on General Motors’ relationship to the welfare of America highlights how the coronavirus has hijacked all aspects of the economy. There’s consensus that once the disease runs its course, commercial activity will come back. It’s also agreed that between now and then GDP…

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Private Debt Intelligence - 4/6/2020

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The impact of COVID-19 on capital calls, distributions, and net cash flows A Preqin-FRG forecasting model shows that capital calls will surge in 2021 as the global economy rebounds. Focused on 2017-2019 vintage private capital funds, the model suggests that, as a result of COVID-19, and assuming the global economy undergoes a significant but brief…

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PDI Picks – 4/6/2020

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Fundraising in the time of coronavirus Private debt funds are finding it tough to raise capital, but this was true before the virus struck. In the face of the coronavirus pandemic and the enormous disruption it has produced in its wake, little surprise that private debt fundraising appears to be in decline…. Subscribe to Read

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