Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 11.7% as of 5 August, highest YTD) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held…
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
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Comparing Business Development Companies and Middle Market Collateralized Loan Obligations (Part 2) Click here to learn more. There can be a meaningful difference in the seniority of the assets in a MM CLO versus those in a BDC. MM CLOs consist almost exclusively of first lien senior secured loans, while BDCs can invest all the…
Deals with nonbacked companies as targets as a share of all PE buyouts by quarter Download PitchBook’s Report here. Borrowing costs remain elevated and will likely stay that way for the remainder of 2024. As a result, PE firms continue to look further down market at companies with lower, more favorable purchase prices to compensate for…
Retail loan funds inflows climbed to US$2.7bn in July, taking YTD total to US$14.1bn Retail loan funds last week posted their first outflow in 6 weeks, with US$91m exiting…. Subscribe to Read MoreAlready a member? Log in here...
Under-allocations laid bare Limited partners have struggled to invest as much in private credit as they would like, as our new study shows. Having been through a period where the denominator effect and slower distributions combined to hamper their allocation efforts, limited partners now find themselves substantially under-allocated to private credit…. Subscribe to Read MoreAlready
Source: PitchBook LCDContact: Ryan Brownryan.brown@pitchbook.com
The Bank of England lowered its benchmark rate for the first time since Covid. Source: The Daily Shot(Past performance is no guarantee of future results.)
For a long-time practitioner and educator in the private capital space, there’s nothing like engaging with sophisticated investors digging deep into nuances of the asset class. In London and the Midlands, these discussions centered around such questions as: 1. How will growth of private markets impact appetite in direct contribution plans and semi-liquid strategies? 2….