Middle Market Activity – 2Q Update To get the full report on Friday, please visit PitchBook’s dedicated Reports page, linked here. The US middle market continues to be a hotbed of PE activity. PitchBook’s 2Q 2017 Middle Market Report, to be released this Friday, shows another strong quarter, particularly for the upper middle market. 147…
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
This week we continue our conversation with Ted Goldthorpe, head of credit for BC Partners. Ted launched the BC Partners Credit business in 2017 and oversees a team of experienced credit professionals. As a managing partner of the firm, Ted is also a member of the Investment committee of the private equity business. Previously Ted…
Last week we looked at sponsored middle market loan volume to come up with an idea of how large the midcap universe is. Before run-offs and refinancings, we came up with a figure of $410 billion. Now we turn our attention to the sponsored middle market refinancing cliff. As our Chart of the Week highlights, about $238…
Between now and 2023 some $238 billion of middle market sponsored syndicated loans mature, peaking at over $14 billion by the second quarter of 2021.
☞ Click for a larger image.
Beginning in October 2016 The Lead Left published a series of articles on add-on. This report consolidates those articles.
Leverage peaks in the middle market across capital structures in 1H17 With market conditions extremely heated, leverage levels have peaked across most capital structures in the middle market in 1H17. The “all senior” capital structure hit a new peak at 3.83 times in 1H17, up from 3.79 times last year and from 3.41 times back…
Contact: Steven Miller smiller@covenantreview