This week we continue our conversation with Brett Hickey, chief executive officer, Star Mountain Capital. Based in New York with regional offices and a network covering over 25 U.S. cities, Star Mountain provides strategic partner capital for private equity, mezzanine and other private capital funds as well as growth debt and equity financing for small…
Not all recoveries are created equal Top-line numbers never tell the whole story in PE. That’s especially the case in Europe, where overall middle-market numbers show a pronounced boom in activity between 2009 and 2014. Since bottoming out, deal flow almost tripled… Subscribe to Read MoreAlready a member? Log in here...
Yields on institutional term loans have tightened in 2Q15. The average yield assuming a three-year term to repayment on first-lien institutional loans is at 5.01 percent so far in 2Q15, down from 5.71 percent in 1Q15, and down over 100bp from 4Q14’s level…. Subscribe to Read MoreAlready a member? Log in here...
Contact: Cuong Huynh cuong.huynh@spcapitaliq.com
“The idea that the loan market could trade the floors that exist today for additional spread is pure fantasy.” – Beth MacLean, bank portfolio manager, PIMCO. It’s March 2008. The Fed has dropped rates precipitously to forestall a liquidity crisis. One-month Libor craters to 2.8% from 5% only three months before. Libor spreads for single-B…
As Libor rates dropped post-crisis, Libor floors on leveraged loans have followed suit, although remaining in the 100 bps range. Source: Thomson Reuters LPC, quarterly middle market term loan yields
Many expect the European economy to perform better this year – not difficult, come might say – but recent spreads movements suggest the credit markets are sceptical. Since the index roll on March 20, the Markit iTraxx Europe has widened by 10bps to 65bps…. Subscribe to Read MoreAlready a member? Log in here...
This week we chat with Brett Hickey, chief executive officer, Star Mountain Capital. Based in New York with regional offices and a network covering over 25 U.S. cities, Star Mountain provides strategic partner capital for private equity, mezzanine and other private capital funds as well as growth debt and equity financing for small and medium-sized…