Larger PE Funds Continue to Realize Gains at Longer Horizons From the one-year mark to the 10-year, the horizon internal rates of return (IRRs) of private equity funds worldwide gradually advance from 8.2% to 13.1%. Breaking down fund performance by size bucket yields further insights, most notably that on a sufficiently long time horizon, funds…
Credit Strategies Hedge Funds Face Testing Times Credit strategies hedge funds saw a trade-off between limited volatility and near-neutral returns through 2015 and the opening quarter of 2016. Quarterly performance through the period saw highs of 2.20% (Q1 2015) and lows of -0.96% (Q3 2015), as credit strategies funds recorded lower volatility than the wider…
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Contact: Timothy Stubbs timothy.stubbs@spglobal.com
iTraxx net notional spikes post-ECB QE decision The prospect of the ECB buying up corporate bonds, potentially squeezing supply in the sector, has meant investors have looked for alternative ways to take on risk exposure. Markit iTraxx Europe Main index has seen its 5-yr CDS spread tighten to 77bps, from 91bps Net notional outstanding on…
This week we chat with Deloitte’s Ned Music and Fenton Burgin. Mr. Music is an SVP in the US firm’s Deloitte Corporate Finance LLC Capital Advisory team while Mr. Burgin heads up Deloitte LLP’s UK Capital Advisory practice. Capital Advisory has 140 debt professionals in 30 countries dedicated to the middle market. Mr. Music will…
Private Debt Industry Set for Growth in Germany Lending to Germany-based companies by private debt funds has typically been hindered by the requirement for fund managers to hold a banking license. This strict approach towards banking regulation has led a limited alternative lending market in the region; Preqin’s Private Debt Online contains details for 15 Germany-based…
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Timing in private credit investing is an important part of decision making for asset managers. Having a view on where we are in the business cycle and how close we are to the next downturn helps frame decisions on specific credits, particularly those in more cyclical industries. In mezzanine investing, timing is essential. 2006 sub…