Chart of the Week: Shrinking Gap
The illiquidity premium earned by middle market loans over broadly syndicated ones has generally tightened, now at less than 70 bps, while all-in spreads have risen.
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PDI Picks – 8/13/2018
Real estate debt: a blossoming American tradition Investment opportunities for the sector in the US appear to remain strong. Real estate debt fundraising by region – where a firm plans to deploy capital rather than where the vehicle’s investors are – has fluctuated over the past four years, but one constant has been the rise…
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![Lead Left Readers’ Say - PE investors: Are you a better buyer or seller in today’s market? [Results]](https://theleadleft.com/wp-content/uploads/2018/08/Screen-Shot-2018-08-02-at-4.04.32-PM-150x150.png)
Debtwire Middle-Market – 8/13/2018
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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Private Debt Intelligence – 8/13/2018
Distressed Debt Outperforms Other Private Debt Strategies The private debt industry has historically been dominated by three main strategies: direct lending, distressed debt and mezzanine, which collectively account for around four-fifths of private debt assets under management. Median returns for these strategies, and for private debt overall, have been strong, and returns have consistently hovered…
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Loan Stats at a Glance – 8/13/2018
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Select Deals in the Market – 8/6/2018
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Markit Recap – 8/6/2018
Emerging markets: CDS stalwarts Emerging market sovereigns are regarded as stalwarts of the CDS market. Liquidity is dependable – participants can usually trade in large size with relatively low transaction costs and little price impact. Those that offer doom-laden predictions about the single name product clearly pay little heed to emerging market names…. Subscribe to
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Debtwire Middle-Market – 8/6/2018
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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