Real estate’s dip and fightback The property sector suffered well-publicised difficulties in the wake of covid but investor interest is returning. The real estate debt market has faced a few tumultuous years. The end of the ‘lower-for-longer’ interest rate environment intensified the withdrawal of investors from this corner of the market, which was already wrestling…
US Leveraged Loan Launches Taper from January Highs Leveraged loan launches have slowed from the record-breaking pace set in January when approximately $204.8b was brought to market for an all-time high. Through February 19th, $72.7b worth of deals have been marketed to investors, marking a significant slowdown month-over month. While February launches have struggled to…
US PE EV/EBITDA multiples Download PitchBook’s Report here. Going forward, as deal volumes expand—especially among PE owners selling to other PE firms—a recent uptrend in EBITDA multiples may be short-lived…. Subscribe to Read MoreAlready a member? Log in here...
Private exit volumes level out Read more in Preqin’s ‘Deal Flow Monitor: Outlook 2025’. Higher interest rates have hampered the private equity exit environment over the past two years…. Subscribe to Read MoreAlready a member? Log in here...
U.S. Banks’ Direct Exposure to Private Credit Growing; Poses Limited Risks for Now Click here to learn more. Join Fitch for the upcoming webinar: Private Credit: Growing Interconnectedness and New Product Risks Recent regulatory data offers new insights into U.S. banks’ direct exposure to the private credit sector. As of Dec. 31, 2024, U.S. banks…
Weighed by repricings, term loan B spreads begin to diverge between single-Bs and double-Bs, although relative value holds steady After new-issue clearing yields tightened for three consecutive months, averaging 7.3% in January and marking another fresh monthly low since May ’22, the institutional loan market may finally be showing signs of fatigue from repricings…. Subscribe
Private Credit Risk Not Systemic, Yet Structures, Asset Classes Evolving Click here to learn more. Private credit, in isolation, is not currently a systemic risk given numerous mitigants, particularly within direct lending, which continues to dominate the asset class, Fitch Ratings says in a new report. Increased transparency will aid in the assessment of risk,…
PE-backed company inventory by deal year Download PitchBook’s Report here. 2024 has ended with a record-low exit/ investment ratio of 0.36x, as dealmaking activity once again races ahead of exits…. Subscribe to Read MoreAlready a member? Log in here...
2025 syndicated middle market loan volume is expected to be in the US$150bn area Forecasts for 2025 syndicated middle market loan volume generally average around US$150bn, broadly similar to the 2024 total, according to LSEG LPC’s recent year-end 2024 Middle Market Outlook Survey…. Subscribe to Read MoreAlready a member? Log in here...
January Marks 20th Consecutive Positive Monthly Return for US Loan Index The Bloomberg US Leveraged Loan Index (Ticker: LOAN), a measure of the US institutional, broadly syndicated, leveraged loan market, returned 0.67% in January following a year in 2024 that saw loan investors rewarded with 8.77% gains. In fact, it was the 20th consecutive positive…