Chart of the Week: Upping the Ante
The cost of buying companies has risen for private equity sponsors as a multiple of ebitda since the credit crisis.
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Leveraged Loan Insight & Analysis – 4/1/2019
1Q19 Syndicated loan volume down 36% y-o-y; Weakest results in 3 years 1Q19 marked an uneven start to the US loan market calendar with less than US$400bn of volume working its way through the retail market. An additional US$61.3bn was completed via clubbed participation…. Subscribe to Read MoreAlready a member? Log in here...
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Covenant Trends – 4/1/2019
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
PDI Picks – 4/1/2019
LPs take issue with management fees, not carry A majority of investors have trouble justifying private markets’ fees internally, but a higher carry, lower management fee is likely an easier sell than the reverse. Fees are often the elephant in the room for limited partners and private markets firms…. Subscribe to Read MoreAlready a member?
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LevFin Insights: High-Yield Bond Statistics – 4/1/2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Debtwire Middle-Market – 4/1/2019
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…
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The Pulse of Private Equity – 4/1/2019
Private equity heads west New York is the epicenter of private equity, as it has been since its beginning. Wall Street was already around when PE got its start, and the important supporting actors—namely lenders and bankers—were all a taxi ride away.The same is true for Silicon Valley and the venture industry,… Subscribe to Read
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Private Debt Intelligence – 4/1/2019
Investor Satisfaction Dims in 2019 Private debt investors remain committed to the asset class, and their overall perception of the industry is positive. But Preqin’s latest surveys find that investor satisfaction has dimmed slightly at the end of 2018, as institutions foresee challenges for the industry in the months ahead…. Subscribe to Read MoreAlready a
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Loan Stats at a Glance – 4/1/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Markit Recap – 3/25/2019
Economics undergraduates know that credibility is vital for monetary policy. But this fact is seemingly elusive for Turkey and their President Tayyip Erdogan. The sovereign is in the midst of yet another crisis,… Subscribe to Read MoreAlready a member? Log in here...
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