Buyout multiples: Steady as they go Coming soon Download PitchBook’s Report here. Despite nine interest rate hikes since December 2015, buyout multiples have remained remarkably steady. The four-quarter rolling median, which helps smooth out that trend over time, has increased by a single turn since early 2016… Subscribe to Read MoreAlready a member? Log in here...
Average EBITDA Adjustment Cap for Synergies & Cost Savings Contact: Steven Miller
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Historical Data – US: ABL Volume & Deal Count Almost US$24bn in asset based loan volume was completed via retail syndication in the US in 1Q19, a 29% increase over the year ago period, but down nearly 26% from the record quarterly high garnered in 4Q18…. Subscribe to Read MoreAlready a member? Log in here...
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Funds in Market The private debt fundraising marketplace is becoming increasingly crowded: as of the start of April 2019, there are 407 vehicles seeking a total of $182bn from investors. These figures have continued to increase from the 395 funds seeking $168bn at the start of the year to reach a new record…
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…
European real estate debt: Are the foundations crumbling? Investor enthusiasm appears to be waning as Brexit worries cast a cloud over the sector. Capital allocated to funds with a focus on European real estate debt reached a record level of almost $12 billion in 2017, according to PDI data…. Subscribe to Read MoreAlready a member?
The number of buyouts with purchase price multiples over 10x has increased markedly since 2013.
“The value of a thing sometimes lies not in what one attains with it, but in what one pays for it – what it costs us.” – Friedrich Nietzsche In last week’s installment of our continuing special series, we discussed how critical time is to driving value. This week we take a deeper look at…