Hurricanes impact reinsurers Hurricane Harvey wreaked devastation across central America and the United States (particularly Texas and Louisiana), leaving an incalculable human cost. But what of the economic cost? As usual with natural disasters it will be some time before it is possible to attach a firm number. But Moody’s estimate that the total cost…
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Leveraged market set to keep things rolling post-Labor Day The leveraged loan market has not looked like it will slow down anytime soon. Year-to-date completed issuance stands at US$972bn through the end of August. That is higher than any post-crisis year through 3Q while another roughly $35bn sits in the pipeline for September. While the…
For many of us the post-Labor Day week means reacclimating to the concept of being in front of a computer in an office. And not in your bathing suit. For those in the leveraged loan market, it means wondering whether deal activity will see its usual September resurgence, and what that will mean for terms…
This week we chat with Jason Block, partner and chief investment officer and Fred Buffone, principal, of Freedom 3 Capital. F3C provides tailored junior capital solutions to middle market companies by providing a combination of junior capital securities to generate current income and capital appreciation. The Lead Left: Jason, congratulations on your success in building…
The next buyout cycle is heavy middle market View PitchBook’s 2017 PE & VC Fundraising Report Here If the latest fundraising numbers are any indication, the new buyout cycle taking hold will be much more geared toward the middle market, particularly on the lower end. Compared to years past, the latest crop of MM funds accounts…
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
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 comprises of more…
Private Debt Fund Managers Adapt to Rising Competition The private debt industry is seeing fundraising figures on pace with those of 2016, and optimism among private debt fund managers for the asset class remains high. However, high levels of deployable capital and an increased number of industry participants have likely contributed to increased difficulty in…