U.S. LBO issuance shows more bark than bite in 1Q18 There was a lot of noise around LBO activity last quarter, but in the end 1Q18 U.S. LBO loan issuance totals finished at a modest US$19bn, 17% behind 4Q17’s level of US$22.9bn and 24% behind 1Q17’s US$25.2bn. The good news is that a lot of…
One of the most interesting features of the new healthcare landscape is the evolving relationship between patients and doctors. As we detailed in our first instalment of this special Lead Left series, retail giants are teaming with healthcare behemoths to capture patients wherever they go. That fits well with the 24/7, wanting everything all the…
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…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Percentage of Loans with F&C Tranche Growers Contact: Steven Miller
Buy, build, repeat Download PitchBook’s report click here. The buy-and-build strategy has largely displaced private equity’s early playbook, which relied on financial engineering and ambitious leveraging to generate profits. To be sure, add-ons have been in PE’s playbook even before the crisis, though to a much smaller degree…. Subscribe to Read MoreAlready a member? Log
Trading levels of liquid healthcare loans have been down relative to the overall market this year.
Direct Lending Fundraising Drops in Q1 2018 The private debt industry saw record year in 2017 in which 156 funds raised an aggregate $115bn. Q1 2018 however, has seen a slowdown in fundraising levels – just nineteen private debt funds reached a final close, raising a combined $14bn. Direct lending in particular saw a decrease…
Contact: Marina Lukatsky marina.lukatsky@spglobal.com