Stresses and strains may trigger a distress revival Distressed debt has adapted to more benign market conditions but may revert to a ‘pure’ form as pressure on borrowers grows. Distressed debt isn’t what it used to be. In the wake of the global financial crisis, there was a once-in-a-lifetime chance to invest in rebuilding a…
Evolution of leveraged loans by vintage shows notable reductions in near-term maturity walls Leveraged loan issuers have continued to proactively manage their capital structures via refinancings and extensions, driving significant reductions in near-term maturity walls over the past 15 months…. Subscribe to Read MoreAlready a member? Log in here...
Percentage of Loans with an MFN Sunset (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Private wealth investors expected to triple allocation to alternatives by 2032. Source: Bain & Company, GlobalData, Preqin, iCapital
It had been a while since our last MENA visit, so on a recent trip there with our teams, clients and friends, the difference in levels of activity and interest around private credit was palpable. Most large sophisticated institutional investors in the Gulf, including sovereign wealth and pension funds, now have a dedicated allocation to…
One of the frequent observations of private credit, usually couched as a complaint, is how many competitors are crowding into the asset class. In part this is due to the increasingly specialized strategies managers are employing that all fit into the PC classification. A few years back, we received a gift membership for a popular […]
After Record January US Leveraged Loan Issuance Tapers Off in Q1 Following a record January that saw more US institutional leveraged loans price than any year since Bloomberg began tracking the data in 2013, at $185.96b, issuance slowed to $95.03b in February and has continued to decline to just $45.27b through March 26th…. Subscribe to
Private debt institutional, retail, and insurance AUM ($B) Download PitchBook’s Report here. Perpetual vehicles for the private wealth investor, also known as semiliquid funds, raised $122 billion in 2024…. Subscribe to Read MoreAlready a member? Log in here...
U.S. BSL & MM CLO Spotlight – February 2025 Click here to download report. At the end of February 2025, 20 CLOs had exposure to at least one defaulted or deferring issuer…. 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