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…
There are clear reasons for a more bullish sentiment to take hold in private capital investment in the year ahead. A more certain macro backdrop, a decisive election result, US companies reporting above-expectation results, and the S&P 500 building on a strong 2023 by rising more than 25% in 2024, are building optimism. Work with […]
Cracks begin to show in primary market amid tight pricing The average all-in spread for 1st lien leveraged loans for the 3-month period ending in January was 313 bps, down 23 bps or 6.9% from the previous period, and marked the tightest spread on record since Bloomberg began tracking the data in 2013. So far…
To ESG or not to ESG LPs appear to be sending contradictory messages on the importance of incorporating ESG and sustainability into investment approaches. How seriously should fund managers be taking their sustainability and ESG-related responsibilities? Judging by our LP Perspectives 2025 report, it’s hard to answer that question conclusively…. Subscribe to Read MoreAlready a
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Average Minimum Day-One Capped Basket Capacity, YoY (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
U.S. Banks’ Direct Exposure to Private Credit Growing; Poses Limited Risks for Now Click here to learn more. Private credit has expanded rapidly, but sizing the market is challenging given limited transparency. In its ‘Private Debt 2025’ report, Preqin sized the global private credit market at $1.6 trillion in AUM at year-end 2024 and projects…
Hypothetical growth of $100 invested by index Download PitchBook’s Report here. PitchBook and Morningstar recently introduced their Buyout Replication index, which is snapshotted below in part…. Subscribe to Read MoreAlready a member? Log in here...
As par-plus loans begin to drift lower, new repricing candidates prove no easier to find Regardless of where one points the blame – a slight downshift in technicals, cracks in broader market conditions, or the self-fulfilling dynamic that the vast majority of issuers that could reprice have already done so – the share of institutional…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com