After record quarter in 4Q19, Green & ESG lending off to strong 2020 start After a strong 4Q19 which culminated in record issuance across the green & ESG markets, 1Q20 issuance has set off at a brisk pace. Nearly US$54bn in green bond volume was completed in 4Q19 via 126 issues to set a new…
Private Debt Deals Break New Ground Leverage is a key component in a private equity transaction, used to drive and maximize returns for investors. Banks moving away from the space has opened up more and more opportunity for private lenders, which are better positioned to provide an alternative financing model for borrowers…. Subscribe to Read
RECESSION IS THE LOOMING CONCERN When considering the biggest threats in 2020, investors are most fearful about a possible recession in core markets or an escalation of the ongoing US-China trade war. These are seen by respondents to our LP Perspectives 2020 survey as the most likely factors to have an impact on performance in…
Issuer-friendly flex adjustments dominate US institutional loan market in January Flex activity in the US institutional loan market has been extremely friendly towards issuers this month. Refinitiv LPC’s Flex Factor has tracked 20 flexed deals so far in January, all of which have skewed in favor of issuers. This has led to a Flex Factor…
What is a private capital fund worth? Download PitchBook’s Report here. Valuing PE management companies can be extremely difficult, but the rise of GP stakes investing is making the task more common. In recent years, many GPs have been valued predominantly on cash flows, management fees and accrued performance fees…. Subscribe to Read MoreAlready a member?
Private Debt Investing for the Long Haul Investors in private debt are generally satisfied with the performance of their portfolios. Eighty-nine percent of those we surveyed by Preqin in November 2019 said private debt performance had either met or exceeded their expectations over 2019… Subscribe to Read MoreAlready a member? Log in here...
ABL draws significant LP interest Asset-backed lending is one of the credit strategies more investors are becoming attuned to. There could be another credit strategy set to pick up traction, according to PDI Perspectives 2020, our annual LP survey…. Subscribe to Read MoreAlready a member? Log in here...
Behind improved market sentiment, US institutional loan pipeline builds The US institutional loan pipeline improved to the US$34bn area last week, its highest January level in the past two years. Market sentiment has improved sharply from a few months ago, particularly for lower-rated issuers. In the secondary market, the B2/B3 cohort of names closed last…
PE hold times keep falling Download PitchBook’s Report here. Now down to 4.9 years, the median holding time of PE assets continues to fall. That’s the first sub-5 year reading since 2011, a timeframe that saw a peak of 6.2 years back in 2014, according to PitchBook’s latest Breakdown Report. Much of the overall downfall—a good…
The Asian opportunity for managers More investors say they are looking to deploy capital into the region, and the possibilities go beyond identifying new LPs. Not surprisingly, many alternative asset investors are considering the Asia-Pacific as one of the emerging markets in which they are likely to invest over the next 12 months, according to…