Chart of the Week: Privates First Class
Direct lending’s share of buyout financings now dwarfs that of the bank market. Source: LSEG LPC
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High Five – 2025 Outlook (Fourth of a Series)
Next up is the second of our five themes for the year ahead: “A busier market: Providers of creative and flexible capital solutions will find favor.” As a brightening macro picture releases pent-up demand for private capital dealmaking – there was $2.6 trillion of dry powder among global buyout and venture capital firms waiting in the…
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Private Equity Now – Portfolio Positioning (LP Perspective)
In a world fraught with macroeconomic uncertainty, geopolitical turmoil, and evolving capital markets, LPs must take a consistent, balanced, and tailor-made approach to portfolio construction. As we have seen, a distribution dilemma can create long term program issues for investors beyond an immediate liquidity shortfall. Tools are available to get cash in the door today […]
Debtwire Middle-Market – 1/27/2025
Twin peaks: loans and bonds hit new milestones in 2024 Loan issuance reached new heights in 2024. The Americas added USD 1.02trn in 4Q24 for a full-year total of USD 3.8trn, the highest number recorded in Dealogic’s database. The volume surpassed the previous high of USD 3.5trn posted in 2021. FY24 volume gained 49% year-on-year (YoY), despite a…
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Bloomberg: Leveraged Lending Insights – 1/20/2025
Top Bookrunners Drive 2024 US Leveraged Loan Volume Amid record issuance in the leveraged loan market in 2024, where institutional issuance exceeded $1.33t, Bank of America was the most active bookrunner, participating in 953 US leveraged loan deals with an annual credited bookrunner volume of over $172b. Following BofA was JP Morgan at $167b across…
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KBRA Direct Lending Deals: News & Analysis – 1/20/2025
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Private Debt Intelligence – 1/20/2025
Hurdle and carry rates climb for riskier private debt strategies Read more in ‘Preqin 2025 Global Report: Private Debt’ Incentive payments to private capital GPs have two main variables, the hurdle rate and carried interest…. Subscribe to Read MoreAlready a member? Log in here...
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LevFin Insights: High-Yield Bond Statistics – 1/20/2025
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
Covenant Trends – 1/20/2025
Percentage of Loans with MFN Carveouts (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Middle Market & Private Credit – 1/20/2025
Fitch U.S. MM CLO Spotlight – December 2024 Click here to learn more. Join Fitch for the upcoming Outlook panel: Credit Outlook 2025 Private Credit At the end of 2024, 24 CLOs had exposure to at least one defaulted or deferring issuer…. Subscribe to Read MoreAlready a member? Log in here...
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