COVID-19 hits unitranche issuance in 1Q20 After growing for three straight quarters and hitting an all time record high in 4Q19, unitranche volume took a steep hit in 1Q20. Total U.S. unitranche issuance fell to US$11.5bn in 1Q20, down 35% from 4Q19’s record high of US$17.5bn. The “mega tranche” trend that exploded in 4Q19 at…
On March 12 we began this special series on COVID-19 with a sense that America would soon be forced out of schools, offices, and all group activity. Little did we know six weeks later 97% (according to one study) of the US population is either at home or sheltering in place. This state of affairs…
Defensive industries such as business services, healthcare, tech, and A&D led all sectors in 1Q M&A volume
Average Minimum Day-One Capped Basket Capacity, YoY Contact: Steven Miller
Private Debt Fundraising Tips the Scales into Europe in Q1 2020 Fundraising fell in the first quarter of 2020 and the balance among the regions where funds are focused has slightly changed. Private debt funds focused on North America typically dominate the fundraising market, but in Q1 the balance shifted somewhat. In Q1 2020 there…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
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…