Heading west: PE sourcing more from the valley than public market Download PitchBook’s 2Q 2018 US PE Breakdown report here. We’ve remarked in the past that PE firms are warming to VC-backed targets. Younger tech companies are increasingly becoming viable buyout targets, or at least intriguing add-on candidates for their platforms. Meanwhile, we’ve also seen…
Average Adjustments for EBITDA Reconciliation as Percentage of PF Adjusted EBITDA Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Private debt keeps it global Managers with the capability to deploy capital around the globe are rounding up more capital than those focused on a specific geographic area. Private debt has had global ambitions in 2018; multi-regional funds locked down the plurality of capital so far this year, with credit managers raising $30.37 billion for…
This week we chat with Jessica Reiss, the head of leveraged loan research at Covenant Review. Also joining the conversation is Kerry Kantin, a managing director covering leveraged loans at sister company LevFin Insights. Begun in 2006, Covenant Review is the world’s first boutique research firm focused on bond and loan covenants. LevFin Insights provides…
“July 4th is the worst holiday,” one of our friends declared as our families sat watching the jaw-dropping fireworks display last Wednesday evening in Newport, RI. Huh? “Think about it,” he explained. “Now the summer will zoom by. Kids back in school last week of August. Then Labor Day. A month later, Halloween. Before you…
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…
June saw the highest number of upward price flexes in the overall leveraged loan market in the past twelve months.
☞ Click for a larger image.