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Markit Recap – 7/25/2016

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Back in July 2010, not long after the first Greek bailout, results of stress tests conducted by the Committee of European Banking Supervisors (the predecessor of the EBA) were released on the EU’s banks. They didn’t make for happy reading. Seven institutions failed, and they were required to raise additional capital to reach the 6%…

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Markets at the Midpoint (Last of a Series)

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The setting was Arlington Park, a storied horse racing venue about a forty-five minute Uber ride northwest of Chicago. We had just lost $50 on a “sure thing” in the 5th race, though we should have been suspicious with a horse named Diminishing Return. The summer gathering there was hosted by one of the leaders…

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Leveraged Loan Insight & Analysis - 7/25/2016

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The PE-backed LBO market continued to remain inflated and aggressive in 2Q16. The average purchase price multiple on large corporate LBO deals was elevated at 11.3 times while middle market deals also saw lofty valuations at 9.7 times. Historically middle market LBOs exhibited average purchase price multiples closer to… Subscribe to Read MoreAlready a member?

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The Pulse of Private Equity - 7/25/2016

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PE Interest in US Lower Middle Market Slumps Temporarily After trending upward for over a year, private equity dealmaking in the US lower middle market (defined as transactions sized between $25 million and $100 million) fell sharply between 1Q and 2Q 2016. Granted, there were fluctuations in the upward trend, but 1Q recorded not only…

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