U.S. Banks’ Direct Exposure to Private Credit Growing; Poses Limited Risks for Now Click here to learn more. Join Fitch for the upcoming webinar: Private Credit: Growing Interconnectedness and New Product Risks Recent regulatory data offers new insights into U.S. banks’ direct exposure to the private credit sector. As of Dec. 31, 2024, U.S. banks…
This week we conclude our series on the private capital outlook for the year ahead with our fifth theme: “A breath of fresh air: Investing and fundraising in 2025.” As private capital’s virtuous cycle sets in motion, 2025 should present plenty of attractive investment opportunities across the capital stack. For senior debt investors, the direct…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Percentage of First-Lien Loans Clearing with Key Covenant Terms by Quarter (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Weighed by repricings, term loan B spreads begin to diverge between single-Bs and double-Bs, although relative value holds steady After new-issue clearing yields tightened for three consecutive months, averaging 7.3% in January and marking another fresh monthly low since May ’22, the institutional loan market may finally be showing signs of fatigue from repricings…. Subscribe
The strength of the US economy since Covid is expected to continue this year. Source: iCapital, Bloomberg.
The hope is for enough positive GDP momentum to keep adding new jobs and improving productivity. December’s labor report showed 256,000 job adds, and core CPI decelerating modestly to 3.2%. And while other inflation data remained stubbornly above the Fed’s target, investors should draw confidence from a resilient backdrop. At a portfolio level, we have […]
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Private Credit Risk Not Systemic, Yet Structures, Asset Classes Evolving Click here to learn more. Private credit, in isolation, is not currently a systemic risk given numerous mitigants, particularly within direct lending, which continues to dominate the asset class, Fitch Ratings says in a new report. Increased transparency will aid in the assessment of risk,…