Combined AUM for US CLOs and retail loan funds inched up to US$784bn in July US CLO assets under management along with loan mutual fund assets under management, inched up in July for a combined total of US$784.4bn, which remains down 1.5% from January’s US$796bn peak. Loan market outstandings ticked lower to end July at…
Big funds are more visible in 2020 Download PitchBook’s Report here. Fundraising has been more difficult in 2020, more so for smaller funds but less difficult for larger ones. The funds that have closed this year have tended to be on the larger side, according to PitchBook’s just released Private Fund Strategies Report, causing a spike…
Special Situations Funds in Market Special situations funds have gained prominence over the second quarter of 2020, being the catalyst of private debt fundraising recovery. And the market continues to be crowded with special situations funds. As of today (19th August 2020) there are 67 special situations funds in market, seeking for a combined $27.8bn….
Midyear grading Download PitchBook’s Report here. Late last year we released our Private Equity Outlook, which boiled down to seven predictions for the year ahead. The maelstrom of 2020 has laid waste to many market predictions, including some of ours, but one is worth mentioning midway through the year…. Subscribe to Read MoreAlready a member? Log
BDC portfolio non-accrual rates hit 5.53% so far in 2Q20 Digging into portfolio performance remains the top priority for BDC research analysts on BDC earnings calls this week. Even though most BDCs are showing a rebound in asset values, its mostly being driven by a spread tightening envionment with credit performance still an issue. After…
Special Situation Funds are on the Raise The private debt industry had a very slow start of the year, but in Q2 2020, fundraising peaked, being distressed debt and special situations the catalyst for this bounce-back. Special situations fundraising has had peaks and troughs over the last ten years, reaching the highest amount of capital…
Now for something a little different? Covid came along and changed everything. It may also change investor views of unconventional strategies. With covid-19 having upset the applecart in so many different ways, managers representing strategies outside of the mainstream – often referred to as “specialty finance” – might be hoping that investors are now more…
Refinitiv LPC’s Lender Survey: Do you have better control of your downtime? When asked if they have better control of their downtime, 44% of large corporate buyside and sellside lenders surveyed by Refinitiv LPC said they take only one or two breaks per day. However, responses were widely dispersed with 33% reporting that they take…
Lending began to rebuild in July, add-ons drove 60% share There’s no clear path forward yet, but lending began to slowly rebuild in July. The second quarter gave arrangers more time to evaluate portfolio company exposure to Covid-19, and while performance was down, it wasn’t as bad as many were expecting, based on DLD‘s conversations…
Distressed investors gearing up Download PitchBook’s Report here. We’re starting to see a spate of distress-focused vehicles hitting the market. Distressed debt and special situations funds accounted for a combined 29.9% of debt capital raised in H1, a leap above the 19.7% they accounted for last year, according to PitchBook’s latest Global Private Debt Report…. Subscribe