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 F&C Tranche Growers (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Source: PitchBook LCDContact: Ryan BrownRyan.Brown@pitchbook.com
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 10.7% as of 26 April, down from the highest level in last 12 months of 12.1% in May 2023) that tracks the overall performance…
Higher for longer has compressed leverage for both cov-lite and cov-heavy loans. Source: LSEG LPC(Past performance is no guarantee of future results.)
This week we continue our series on best practices of top private credit firms with a look at how underwriting teams partner closely with their internal colleagues to ensure the most favorable execution for their sponsor clients and investors. Clear communications with private equity partners at the deal screening stage is essential. Quick and decisive…
Success is a balance of offense and defense. Deploying capital efficiently means sourcing top performing assets – financings to superior corporate borrowers backed by (in sponsor-backed businesses) top-tier private equity firms. Once in the portfolio those companies and their financing structures need to withstand any micro or macro threats. Critical to smart investing is close […]
The relative attractiveness of alternative asset classes has shifted significantly over the past few years as interest rates have risen and the economy become much less certain…. Subscribe to Read MoreAlready a member? Log in here...
Loan participants see higher defaults from 1.6% today, but not much higher. Source: PitchBook/LCD(Past performance is no guarantee of future results.)
Understanding the connection between business and structural risks is one of the keys to successful credit investing. “Good company, bad balance sheet” is how opportunistic credit managers describe troubled but attractive situations in which to invest. It’s helpful to examine these transactions for clues as to how the borrower got a bad balance sheet to…