Senior direct lending strategies dominate private-credit fundraises in 2024 Despite challenging fundraising conditions for private market strategies persisting into 2024, the past year has seen private-credit funds break new ground, smashing fundraising records and solidifying senior direct lending as a leading core strategy…. Subscribe to Read MoreAlready a member? Log in here...
Australian credit spreads showing signs of bottoming out. Source: The Daily Shot, Topdown Charts, LSEG
“When my 2-year-old opened up her toy chest, things tumbled out. She’s 15 now, so it’s a well-organized make-up box. That’s how private credit has matured here.” – Australian investor. In our travels last month to Perth, Melbourne, and Sydney, we had over twenty meetings with clients and friends that included superannuation funds, wealth management…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
As we’ve noted, the banks and private credit managers occupy different places in the corporate finance ecosystem. That’s not to say, of course, that large corporate financings don’t represent real investment opportunities for the right buyers. Or that the expansion and evolution of private capital won’t lead to interesting and constructive solutions for a wide […]
Share of private debt capital raised by strategy Download PitchBook’s Report here. Direct lending led as the top fundraising substrategy within private debt, accounting for 60.7% of the capital raised in 2024…. Subscribe to Read MoreAlready a member? Log in here...
New money financing remains muted as M&A off to slow start in 2025 At just $35.9b or 11% of volume in Q1 2025, new money financing remains sluggish amid record levels of issuance. At $339.2b, first quarter issuance was among the busiest since Bloomberg began tracking the data in 2013, however that did not translate…
Tight Spreads, Rising Non-Accruals to Further Weaken BDC Earnings Click here to learn more. Continued spread pressure and additional non-accruals will likely weaken earnings and dividend coverage for business development companies (BDCs)…. Subscribe to Read MoreAlready a member? Log in here...
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 10.9% as of 31 March) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses…