Confusion over where we are in the cycle was clarified a bit last week. The chief of JP Morgan Chase, Jamie Dimon, said at a NYC investor conference, “We’re probably in the sixth inning. It’s very possible you’re going to see stronger growth in the U.S.” Mr. Dimon’s bullish view was supported by Friday’s job…
The upside of SBOs Secondary buyouts have been a contentious part of the PE industry for a long time. Limited partners are the most vocal about “pass-the-parcel” deals; in rare cases they are both buyer and seller of the same company (if they’re invested in both funds), but even when that’s not the case, studies…
Market Survey: Will new issue CLOs reach US$140bn this year? Roughly one third of the CLO managers, arrangers, and investors across the stack surveyed by Thomson Reuters LPC said CLO issuance will be US$110bn this year, while another third said US$120bn and 10% said new issue CLOs will reach US$130bn, which would be a record…
Unlike prior recessions, leading economic indicators signal this cycle will continue a bit longer.
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
A direct way forward More limited partners are going straight to businesses to invest and it brings benefits to managers and borrowers. The Alaska Permanent Fund Corporation has joined a growing number of limited partners doing direct credit investing, as the sovereign wealth fund announced it was creating a $1 billion portfolio for the effort…
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…
This week we continue our conversation with Mark Habner, Co-Founder and CEO of the BeckWay Group. Beckway provides operating capabilities to private equity firms and their portfolio companies. In his current role Mark leads BeckWay Group’s three divisions, TalentFinders, Trailblazers and Tracking Technologies. Second of two parts – View part one. The Lead Ledt: Could you…
Average Unadjusted Leverage for M&A-Related Loans Through F&C Contact: Steven Miller
Private Debt Fundraising Struggles to Gain Momentum in Asia Although the rapid expansion of the private debt industry is widely recognised, it is equally apparent that the bulk of the increase has been focused on established markets in North America and Europe. Less focus has been paid to opportunities in Asia, and consequently the region…