Chart of the Week: Reverse Gear
After seven straight weeks of cash in-flows, high-yield funds showed out-flows. Source: Morningstar/PitchBook
Chart of the Week
Chart of the Week: The Shortest Month
After peaking last fall, leveraged loan returns dropped sharply in February. Source: PitchBook
Chart of the Week: Liquids Lag
Return performance of broadly syndicated loans consistently lags private credit. Source: Hamilton Lane, Bloomberg, The Daily Shot.
Chart of the Week: Working From Home
Slower M&A has extended time PE-owned companies in portfolios to ten-year high. Source: PitchBook
Chart of the Week: Home in the Range
The threat of tariff-triggered inflation should keep Fed Funds rates range-bound. Source: iCapital, Bloomberg, Federal Reserve.
Chart of the Week: Still Growing
The strength of the US economy since Covid is expected to continue this year. Source: iCapital, Bloomberg.
Chart of the Week: Up the Middle
Total middle market loan volume for 2024 at $51.3 billion was the highest in eight years. Source: Fitch Ratings, Lev Fin Insights.
Chart of the Week: Wide Dispersion
BSL defaults at 3Q 2024 were more than six times those in private credit. Source: Proskauer (Private Credit), Fitch Ratings (BSL), as of September 30, 2024.
Chart of the Week: Privates First Class
Direct lending’s share of buyout financings now dwarfs that of the bank market. Source: LSEG LPC
Chart of the Week: Reversal of Fortune
Three quarters of M&A activity in 2024 approached full-year volume for 2023. Source: PitchBook