Waiting for the specialty wave There are reasons why you might expect esoteric strategies to garner more investor dollars, but it may not be straightforward. Our Investor Report 2024 shows no obvious change in limited partners’ appetite for different types of private debt strategy. Direct lending has long been in favour and appears to remain…
Platform LBO and growth equity as a share of all PE deals Download PitchBook’s Report here. In the second quarter of 2024, add-on transactions accounted for a significant 77.4% of all PE buyouts, marking an increase of 226 basis points over the 2023 average…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Privately Monitored Middle Market Portfolio Overview, 2Q24 Click here to download report. In the charts that follow, Fitch presents aggregate data for MM companies, defined as in the area of $500 million of debt or $100 million of EBITDA or below, that it privately rates for asset managers…. Subscribe to Read MoreAlready a member?
Fitch’s Privately Monitored Middle Market Portfolio Overview, 2Q24 Click here to download report. In the charts that follow, Fitch presents aggregate data for MM companies, defined as in the area of $500 million of debt or $100 million of EBITDA or below, that it privately rates for asset managers…. Subscribe to Read MoreAlready a member?
Private debt fundraising recovers toward trend Read more in Preqin’s Insights+ Report: Investor Outlook: H2 2024 Half of LPs surveyed in June for Preqin’s Investor Outlook plan to commit more capital to private debt over the next 12 months…. Subscribe to Read MoreAlready a member? Log in here...
Quarterly rolling one-year PE fund performance by size Download PitchBook’s Report here. Breaking down the data by fund sizes, middle-market buyout funds have outperformed megafunds for six consecutive quarters…. Subscribe to Read MoreAlready a member? Log in here...
Institutional loans calendar slows in August amid traditional summer holidays but ahead of year ago-levels At just under US$31bn, the US institutional loans calendar edged down modestly in early August (from US$34.4bn) as lender and issuer activity slowed ahead of the peak summer holidays…. Subscribe to Read MoreAlready a member? Log in here...
Big and getting bigger: insurance in private credit Insurance companies are some of the biggest allocators to private credit already, but there is still a lot of room for the partnership to grow further. With insurance regulatory regimes varying between countries – and in the US, between states – and insurers having different needs and…
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…