Chart of the Week: Steady As She Goes
Amid significant price volatility that occupied liquid markets, middle market loan trading levels were relatively stable.
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LevFin Insights: High-Yield Bond Statistics – 2/4/2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Intelligence – 2/4/2019
Are First-Time Private Debt Funds Worth It? The private debt fund market has been somewhat unforgiving towards first-time funds. Investors are wary of investing with a fund that lacks a proven track record and as a result, first-time private debt fundraising is falling further and further behind…. Subscribe to Read MoreAlready a member? Log in
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The Pulse of Private Equity – 2/4/2019
The institutionalization of M&A Download PitchBook’s Report here. Last week we highlighted the growing convergence of public and private multiples. For investors who dabble in both markets, there’s a baked-in assumption of a private market discount, since money tied up in buyout funds is illiquid, partially justified by cheaper entry prices and higher returns…. Subscribe to
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PDI Picks – 2/4/2019
Pedal off the metal Fundraising tumbled in 2018, in part explained by an unwillingness to add to the stockpile of capital dedicated to distress. Rather like Superbowl LIII, private debt fundraising in 2018 was intriguing but unspectacular. Compared with the record-breaking $211 billion collected globally in 2017, a rather more humdrum figure of $135 billion…
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Debtwire Middle-Market – 2/4/2019
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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Loan Stats at a Glance – 2/4/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Leveraged Loan Insight & Analysis – 1/28/2019
Highly levered middle market issuers could struggle if rates continue to rise Throughout most of this credit cycle, the Libor benchmark rate has remained extremely low making it quite easy for issuers to meet interest payments. However over the past year, three-month libor has risen over 100bps to 2.75%. While the Fed has recently tempered…
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