DL Deals: ACProducts Deep Dive KKR Capital Markets used hard call premiums starting at 103 on ACProducts, a B/B2 credit that had more of a hybrid distribution strategy this month, to protect the attractive L+650 spread from being taken out quickly via repricing. The move is reminiscent of Qlik Technologies in 2016, however today’s repricing…
The humbled FoF market Download PitchBook’s Report here. We’ve wondered before if funds of funds are becoming obsolete. Perhaps a hyperbolic word choice but probably only a couple standard deviations from the truth. FoF fundraising has nosedived over the past decade, as has its industry clout. Our most recent overhang numbers, dissected in PitchBook’s just-released Private…
Average Adjusted Leverage Through F&C for M&A-Driven Loan Deals Contact: Steven Miller
Here are the next two fables in our continuing special series on myths of private credit: Myth #5: “No one uses mezzanine debt anymore.” As we detailed over four years ago (link), private sub debt regularly gets kicked around at conferences for being “dead.” This has particularly been the case since the advent of the…
Middle market mezzanine activity slumped last year, but has maintained a steady pace since 2013.
Women in Private Debt With a growing body of research indicating that more diverse teams and inclusive workplaces directly correlates with stronger business outcomes, the issue of diversity in private debt continues to move up the agenda. Preqin’s 2020 Women in Alternative Assets Report found the proportion of female employees in the alternative assets industry…
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Why investors are getting real In the UK and Europe, appetite for real estate and infrastructure debt is on the increase. At Private Debt Investor, our main focus is on corporate loans, typically supporting M&A activity for middle-market companies sponsored by private equity firms. It is, if you like, our ‘bread and butter’…. Subscribe to