This week we chat with Chris Ullman, Managing Director and Director of Global Communications at The Carlyle Group. Prior to Carlyle, Chris was Director of Communications at the US Office of Management and Budget, and before that, Director of Public Affairs for the SEC. He is author of the soon-to-be-published memoir and inspirational book, “Find…
PE’s historical performance still allures in a market plagued by uncertainty View PitchBook’s 2017 Global PE & VC Fund Benchmarking Report: Part II Here Comparing the returns of different strategies is difficult enough, given the typical disparities in approach. Assessing private equity’s performance relative to that of public markets is even more challenging,… Subscribe to
The UK vs Europe: Private Debt Fundraising Europe-focused fundraising has typically been driven by vehicles based in the UK: since the start of 2010, UK-based funds have raised a cumulative €50bn in investor commitments,… Subscribe to Read MoreAlready a member? Log in here...
While quarterly cov-lite volume is on the rise, it’s still a far cry from the heady days of 2014.
Contact: Steven Miller smiller@covenantreview
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
US Direct Lending Funds Approach $100bn in AUM The direct lending market in the US has been growing consistently since the Global Financial Crisis (GFC). Given the long-term low-interest environment, many investors have been looking for alternatives to supplement their fixed income investments, which have seen yields remain low. Direct lending, in this context,… Subscribe
Middle market lenders struggling to find yield in 2Q17 Middle market lenders with a minimum spread requirement of 500bp and above are most likely struggling to find assets in the syndicated loan market that meet their return requirements. So far in 2Q17, 77% of middle market sponsor-backed loans to hit the syndicated market have a…
It’s a fact of life in leveraged lending that terms are market-driven. During periods of excess liquidity – when loan demand exceeds supply – structures become issuer-friendly. When investors pull back, for any reason, terms swing in favor of lenders. When concerns about China and commodities roiled markets in August 2015, the Dow dropped 2000…
This week we continue our conversation with David Brackett, Managing Partner and Co-CEO, Antares Capital. Founded in 1996, Antares is a premier credit solutions provider to middle-market, private-equity backed companies. Second of two parts – View part one. Download Antares’ Report: “2017: Leading with optimism in times of uncertainty” here TLL: What about a BDC? David Brackett: They…