Select Deals in the Market – 3/28/2016
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As Investment Activity Slows, Competition for Quality Remains Fierce As March winds down, the first quarter of 2016 currently has seen around 700 private equity deals close in the U.S. Taking the total as 700, that completed deal count represents a drop of nearly 29% from the tally of 4Q 2015, which itself saw the…
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Contact: Timothy Stubbs timothy.stubbs@spcapitaliq.com
Valeant Pharmaceuticals, the most widely held name in U.S. CLOs, announced last week it was cutting its revenue forecast and that a delay in filing its annual report put the company at risk of defaulting on its debt. In response, Valeant’s shares plunged by more than 50%. The company’s loans ended Tuesday with a weighted…
Will Net Cash Flows Decline for PE Fund Investors? Since 2010, there has been a markedly recurrent yearly increase in total distributions to investors in private equity funds. This increase, as well as relatively plateaued contributions, has produced a significantly positive net cash flow for global PE funds. Through the first half of 2015, net…
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As we wrap up our series on direct lending in Europe, let’s examine the supply/demand dynamic we expect to drive deal activity for providers and users of private debt. As our Chart of the Week shows, European funds have almost $30 billion in dry powder available to support loans. On the supply side, private equity…