1Q18 Global loan volume down 15% y-o-y; Decline felt across regions 1Q18 global loan volume tumbled 15% year over year to log less than US$924bn during the first three months of the year. No region was spared a more limited pipeline of deals. The Americas observed an 11% drop in regional issuance with less than…
PE performance update Download PitchBook’s Report click here. The run-up in public market valuations and its impact on PE has been discussed ad nauseum. Much of that impact has been negative, especially around multiples and a lack of suitable entry prices. PE’s strong suit has historically been the turnaround play—buy low, get your hands dirty,…
Percentage of Deals with 75+ bps MFN Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
News last week that Walmart was hooking up with Humana sent waves through the healthcare and retail world. Disruption has taken its toll on both sectors. Top players are actively looking across industry lines for partners to help them survive and thrive. Figuring out how to leverage expertise to consolidate inefficient businesses is, of course,…
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 chat with Rob Morris, founder and managing partner of Olympus Partners. Prior to founding Olympus in 1988, Rob held a variety of management positions in various manufacturing and financial services businesses at General Electric Corporation, the last of which was Senior Vice President of GE Investment Corporation, where he managed GE Pension…
Credit Strategies Start 2018 with Positive Performance Preqin finds that credit strategy hedge funds have maintained their streak of positive performance, having generated positive returns on a yearly basis since 2009, and seeing returns of 7.41% in 2017. The strategy has started 2018 with a bang, producing positive performance in the first two months of…
Debt dynasty In a competitive atmosphere, LPs seem to like their GPs well enough that four-fifths would commit to a successor fund if the right chance presents itself. Despite the plethora of upstart private credit managers that have rolled out in recent years, it is still better to be an incumbent fund manager than a…
Leverage for mid cap healthcare loans has grown steadily, with senior debt/ebitda now over five times.