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…
The pros and cons of long-dated funds Download PitchBook Report here Private equity moves at a glacial pace. While the average shelf life of a PE fund is often assumed to be eight to ten years, many funds require considerably more time to wind down. PitchBook data shows that it takes between 11 to 14…
For the first time since 2008 the universe of leveraged loans has exceeded that of high-yield bonds.
Can Asia Pacific make a breakthrough? The region has been characterized by modest overall fundraising totals boosted by occasional mega-funds, but there is hope that this year may be different. Looking at fundraising data for the Asia-Pacific region over the last four-and-a-half years does not appear to provide much encouragement: 2015 saw almost $8.5 billion…
Minimum General Purpose Debt Capacity for M&A-Related Loans Contact: Steven Miller
This week we chat with Peter Magas, managing director at Beecken Petty O’Keefe and Co. Peter joined BPOC in 2008. He serves or has served on the board of Absolute Dental, Hospital Physician Partners, ISG Holdings, Medical Solutions and Paragon Medical. Founded in 1996, BPOC ranks among the country’s oldest private equity management firms that…
Private Debt and Public Market Performance A key issue for investors when evaluating the performance of their private debt investments is the correlation to public markets. Part of the appeal of private debt is its low correlation to other asset classes, as well as its long-term and illiquid nature. As such, though, it makes accurately…
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
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