Right on cue, with the tenth anniversary of Lehman’s collapse only now in our rear view mirrors, a mega-leveraged cross-border buyout “reminiscent” of 2007 hit the credit markets. At $17 billion, Blackstone’s purchase of a 55% share of Refinitiv, Thomson Reuters’ Risk and Markets business, represented one of the largest bank and bond deals since…
Hiding the target Many fund managers are now not revealing how much their vehicle is hoping to raise. Managers may be becoming more secretive as the private credit pool has proliferated, as many now do not reveal fund targets, according to PDI data. A full 30 percent of funds in market have not disclosed their…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private Debt Capital Distributions Reach Record Highs Private debt has a history of strong returns, and the asset class has consistently met, and often exceeded, investors’ performance expectations. In fact, according to Preqin’s latest survey of institutional investors, 91% of investors said that private debt has met their performance expectations over the past 12 months,…
PE firms are no longer clubbing Download PitchBook’s Report here. Club deals are something of a sticky issue in the private equity world. PE firms themselves don’t mind them—the risk is spread around—nor do lenders mind them, who also presume less risk with more reputable investors involved. Dry powders levels have skyrocketed, and club deals allow…
An examination of all-market spreads show that unitranches to be higher than first/second lien, but the differential is shrinking.
Share of jumbo deals in the institutional loan calendar drops Source: Debtwire Par The September institutional loan calendar has been marked by several jumbo deals in syndication. Refinitiv and Akzo Nobel allocated last week, knocking a hefty chunk off the calendar. Other large deals like Envision Healthcare and Messer Industries remain in market, with institutional…
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
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