Management fees for private debt second lowest in private markets Read more in Preqin’s Private Capital Fund Terms Advisor 2024 report Although private debt has been the hot ticket for investors for the past few years, fund managers are now finding it harder to raise funds…. Subscribe to Read MoreAlready a member? Log in here...
Consistent with remarks from conference panelists, pension plans are looking at more niche private credit strategies to achieve diversified return profiles. Examples include secondaries, NAV financing, ABL, distressed, and real estate debt. In part, this is because the sheer number of managers that name private credit as their focus makes it challenging to navigate. ▶︎ […]
(Past performance is no guarantee of future results.) Contact: Eric Rosenthal eric.rosenthal@kbra.com
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Share of New-Issue Institutional Loans with a Pick-Your-Poison Provision by Quarter (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Leverage on middle market sponsored deals increased to 4.76x on average in 3Q24 Total leverage on sponsored middle market deals climbed to 4.76x on average in 3Q24 from 4.61x in 2Q24 and was the highest quarterly level recorded since 1Q22…. Subscribe to Read MoreAlready a member? Log in here...
Challenging notions of secrecy Read the column from Jiri Krol of the Alternative Credit Council here The Managed Funds Association has defended private credit against claims that it is guilty of a lack of transparency. One of the most contentious aspects of private credit is transparency – whether deserved or not, a perceived lack of…
Fund managers are looking increasingly to global issues for biggest risks. Source: The Daily Shot, BofA Global Research(Past performance is no guarantee of future results.)
While the expected pace of Fed cuts has slowed, nothing suggests a change in direction. This course suggests a re-assessment of which strategies deserve allocations. Who will be the winners and losers? How does our high velocity environment complicate these decisions? One speaker at the GEF spoke about how managers find themselves increasingly behind the…
Median EV/revenue multiples on PE deals below $25 million Download PitchBook’s Report here. While we do not believe the much-feared valuation reset is in the cards, we do believe the uptrend in EBITDA multiples will be disrupted as deal volumes expand, especially among PE owners selling to other PE firms…. Subscribe to Read MoreAlready a member?