LevFin Insights: High-Yield Bond Statistics – 3/5/2018
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
TheLeadLeft
A Decade of Leading Left
Ten years ago Churchill launched a weekly internal newsletter called “On The Left.” The world of March 2008 was a very different place. The demise of Bear Stearns would happen that month. Lehman Brothers would fall six months after that. Each day’s business headlines were scarier than the day before. Keeping our management and originators…
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The Pulse of Private Equity – 3/5/2018
Four years’ worth of powder Download PitchBook’s Report click here. Much has been said about PE dry powder levels, which continue to peak year after year. Our calculations show about $848 billion of unspent buyout/growth capital across North America and Europe (as of June 30, by the way). That’s still a 22% increase over year-end…
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Debtwire Middle-Market – 3/5/2018
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…
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Chart of the Week: Broad Buyouts
While leverage for institutional middle market LBOs has ticked up over 6x, the club market remains 1.35x lower.
Private Debt Intelligence – 3/5/2018
Investors in Private Debt Private debt has maintained steady interest from investors due to its strong performance and high levels of capital distributed back to investors. There are currently over 3,100 institutional investors actively investing in private debt or considering entering the asset class. This represents an increase of 700 investors in the course of…
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Lead Left Interview – Dee Dee Sklar
This week we chat with Dee Dee Sklar, Vice Chair of Subscription Finance, Asset-Backed Finance, Wells Fargo Securities. ABF provides direct structured lending as well as the underwriting and distribution of asset-backed securities for over 550 clients and a risk portfolio of approximately $122BN across consumer, commercial, residential, corporate debt finance and subscription finance. The…
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Loan Stats at a Glance – 3/5/2018
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
PDI Picks – 3/5/2018
Distressed fundraising a sign of things to come? PDI in-house data show plenty of distressed and special situations capital to plow into any potential crunch in the credit markets. If recent volatility in stock markets is a harbinger for the credit markets, then alternative asset managers may be in a very good place following a…
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Markit Recap – 2/26/2018
Italy election – markets are sanguine We noted at the end of last year that the coming 12 months would probably be low on political risk, at least in comparison to the election-packed 2017. The one highlight in Europe would be Italy’s general election, unless talks on a Brexit transition unravel spectacularly…. Subscribe to Read
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