US Leveraged lending tumbled in 3Q15 as market volatility fueled a flight to quality and heightened risk aversion. At less than $180 billion, 3Q15 leveraged lending was down nearly 50% compared to 2Q15 totals to bring 1-3Q15 totals to $753 billion, down 24% compared to the same time last year. Most of the shortfall was rooted…
This week we chat with Timothy J. Conway, chairman and chief executive officer of NewStar Financial. Founded by Mr. Conway in 2004, NewStar is focused exclusively on providing sophisticated financing options to mid-sized companies through four national lending groups: leverage finance, business credit, equipment finance, and real estate. The Lead Left: Your first question, congrats on FOC…
Median Multiples for U.S. PE Wane Further Even taken with a grain of salt, the decline in median EBITDA multiples for U.S. private equity buyouts has become more and more pronounced as third quarter numbers roll in. Faced with the headache of high valuations, PE firms have not only been dialing down activity—albeit at a…
Contact: Daniel Mena daniel.mena@spcapitaliq.com
In recent years, the credit markets have become accustomed to volatility, despite the best efforts of central banks to tame the beast. But where it was sovereigns and banks that were the instigators during the crises of 2007-2012, in 2015 it is the commodities sector that is providing the oscillations. Nowhere was this more evident…
With the passing of Yogi Berra, the position of sports legend/philosopher is now vacant. While no obvious candidates have stepped forward, we offer to nominate Cam Newton, star quarterback of the Carolina Panthers. Second-guessed on a play call by a reporter at a press conference last October, he replied with a shrug, “Hindsight is always…
This week we continue our conversation with Tim Hopper, managing director and chief economist for TIAA-CREF. Tim has over 20 years of experience writing and speaking about the global economy. Prior to joining TIAA-CREF, Mr. Hopper held various leadership positions in global banking and real estate. He also served as a senior economist with the Federal…
Cash leaving loan funds has slowed, but still sees nine consecutive weeks of $4 billion outflows.