BDC leverage on the rise, one tool to combat falling Libor After peaking in December 2018 at over 2.8%, 3-month Libor has since fallen to 1.9% and BDCs are reporting lower weighted average yields in 3Q19 as a result. Following this steep decline, BDCs are taking advantage of their flexibility to increase leverage under the…
PE’s tech infatuation Download PitchBook’s Report here. Tech-focused dry powder has almost doubled since 2016. The latest returns data available is through March of this year, when it totaled $93.1 billion across North America and Europe. That marked a 93% increase since 2016’s cumulative $48.2 billion, according to PitchBook’s latest analyst note on tech funds. The…
Average Minimum Day-One Capped Basket Capacity Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
On a fourteen-hour flight from Seoul, we sat next to the head of a very successful private credit shop. Besides discussing the relative viewing merits of Bohemian Rhapsody versus Saving Private Ryan (there was plenty of time for both, plus X-Men: Days of Future Past), the subject turned to trends in the capital markets. “By…
Leverage for middle market unitranches has matched first-lien large cap leverage.
Higher rated loan repricing volume jumps Source: Debtwire Par Institutional loan repricing activity jumped sharply in October to USD 13.9bn, exceeding the combined USD 8.6bn recorded in the first nine months of the year. Of October’s USD 13.9bn, Charter Communications accounted for a large chunk (USD 6.2bn) of the total…. Subscribe to Read MoreAlready a
Women in Private Debt The number of women that are working in alternatives has increased compared with two years ago. At present, women represent 19.7% of employees in the alternatives industry, where as in 2017, there proportion was 18.8%. However, the rise was unequally shared across the asset classes…. Subscribe to Read MoreAlready a member?
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com