This week we continue our conversation with William G. Winterer, partner, Parthenon Capital Partners. Bill is head of capital markets and a member of Parthenon’s investment committee. Parthenon is a private equity investment firm that has managed funds with over $3.5 billion in total capital commitment with offices in Boston and San Francisco and approximately…
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Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Investors Planning Larger Allocations to Private Debt Across all Regions Preqin research into the private debt industry finds that while investors in all regions are currently below their target allocation to the asset class, there is significant fluctuation between regions. Despite private debt in North America and Europe playing a crucial role in fundraising… Subscribe
Tumbling volatility over the past months has seen US and European corporate credit risk converge, despite credit investors bracing themselves for diverging monetary policies. In a speech yesterday, Fed chair Janet Yellen remained positive about an interest rate hike in the coming months, while tomorrow marks the start of the ECB’s corporate bond buying programme….
Last week’s disappointing employment report was another brushback pitch to the Fed as it hopes to hike rates sometime this summer. While some economists worried that diminished job creation could foretell a slowing in US GDP, others pointed to real wage growth, better consuming spending, and improved housing starts. We have noted before the Fed’s…
Buy-and-hold middle market loans (“MM Club/Private TLB”) don’t typically trade among holders, so are less subject to abrupt price swings. Sources: Thomson Reuters LPC; represents all-in yield (3 years)
Large arrangers have gained enough confidence to arrange and syndicate second lien facilities this quarter in the leveraged loan market. So far in 2Q16, US$2.4bn in second lien tranches have closed, a 60% improvement from the US$1.52bn last quarter. And several second liens have even been used to finance dividend recaps – a testament to…
Median healthcare buyout size surges in 1Q In the first quarter of 2016, the median private equity buyout in the U.S. healthcare sector hit $139.3 million in size, topping the previous high of $123 million in 2012. Even if 2016’s numbers slide as the year goes on, transaction sizes shouldn’t decline by much, owing to…