Covenant Trends – 11/18/2024
Percentage of Loans with Asset Sale Sweep Step-downs (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
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Middle Market & Private Credit – 11/18/2024
Fitch’s Privately Monitored Middle Market Portfolio Overview − 3Q24 (Part 3) Click here to download report. In the charts above, Fitch presents aggregate data for Middle Market companies that it privately rates on a monitored basis for asset managers, defined as:… Subscribe to Read MoreAlready a member? Log in here...
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Leveraged Loan Insight & Analysis – 11/18/2024
A flurry of new leveraged loans hit the market post elections and in run up to year end After a brief pullback in the institutional calendar in the week leading up to the US election, lenders have tapped the market with a flurry of deals…. Subscribe to Read MoreAlready a member? Log in here...
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Chart of the Week: No Money-Back Guarantee
The absence of realizations has hampered distributions to LPs. Source: Burgiss/MSCI(Past performance is no guarantee of future results.)
Private Equity Now – Impact on Fundraising (GP Perspective)
So far in our “Private Equity Now” series we’ve covered the various technologies available to LPs and GPs to access liquidity in this difficult environment. This week we focus on fundraising to understand how GPs are navigating with investors pining for distributions. Indeed, private equity fund managers are facing a landscape unlike any we’ve experienced…
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Middle Market Deal Terms at a Glance – November 2024
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
Everything Happens So Much (Last of Three Parts)
Capabilities live within a culture. The right mindset is required to react effectively to disruption. Unfortunately, many organizations lack the sense of urgency. This works against them. Why? Because extinction is slow. It takes decades to lose market share. With C-suites and employees consumed with day-to-day work, strategic decisions get postponed. A timely question remains: […]
KBRA Direct Lending Deals: News & Analysis – 11/11/2024
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthal eric.rosenthal@kbra.com
Chart of the Week: Secondaries on the March
The growth of equity secondaries is fueled by both LP and GP liquidity needs. Source: Jefferies(Past performance is no guarantee of future results.)
Private Equity Now: The LP Perspective
Over the past two weeks we’ve touched on the distribution dilemma in private equity, and most recently on the perspectives and tactics used by GPs. This week, we dive deeper into the LPs perspective and how allocators are managing private equity programs in the current environment. To quantify the issues: LPs observed a 9.5% distribution…
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