North America tops PE fundraising yet again Despite a global maturation of the asset class, North America still remains the place to be. Private equity has grown globally in recent years, with maturing markets in both Europe and Asia-Pacific, but North America remains the dominant force it has been for years. In the first half…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Leveraged loan market expected to pick up amidst more volatile market backdrop Completed US leveraged loan volume totals US$105bn so far this quarter as lenders look for a pick-up in activity after the Labor Day holiday. 3Q19 leveraged issuance comprises US$59.8bn in new money volume with another US$45.3bn in refinancing volume. Refi activity has been…
Despite our known deficiencies on the links, we were invited last week to a superb round of golf with other direct lending professionals at a course in Summit, NJ. ‘Superb’ because we walked away with ‘closest-to-the-pin’ honors. Though in fairness, 48 feet, eight inches is hardly close to anything. And we didn’t even make the…
The average price of a most-liquid broadly syndicated leveraged loan has been within a band most of the summer.
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
This week commentary, we take a look at large sponsored financings led by direct lenders. After Ares underwrote Thoma Bravo’s $1 billion Qlik deal in 2016, market observers thought this might lead to a wave of similar mega-buyouts led by the non-banks. Private credit providers have raised record funds in a variety of vehicles, allowing […]
Top US CLO retail holdings Top retail loan holdings in active US CLOs at the end of July include Albertson’s TLB, Bass Pro Shops TL and EG Group TL, with US$2.1bn, US$1.9bn and US$1.7bn of total issuer loan volume respectively. While loan debt of several defaulted retail issuers is still held in active CLOs, their…
Our commentary at Aug 5 2019 deals with the first fed rate cuts in over a decade, and the latest round of tariffs on China. How much weight will this uncertainty bear on the credit markets? A lot depends on whether this latest trade volley will be softened or retracted down the road. Depending on […]