Europe-Focused Private Debt Fundraising Hits Record High Private debt fundraising has been slowing down globally since 2017 – so far this year the asset class has raised $92.7bn, the lowest fundraising figure seen since 2014. Normally, a big proportion of private debt trends are attributed to the most developed markets of North America and Europe,…
LPs expecting lower private debt returns in 2020 The asset class has experienced intense competition over the years, and that might be starting to show up in LPs’ return expectations. Investors broadly expect to enjoy solid private debt returns next year, with 78 percent anticipating returns at or above their benchmarks, according to our annual…
Defaulted loans ticked down slightly for BDCs in 3Q19 Lenders and investors are exhibiting growing concerns surrounding slowing growth and where the economy is headed. Yet non-accruals within BDC portfolios are not yet showing any accelerating signs of deterioration. As of the September 30 filing date, the share of BDC loans on non-accrual status as…
Grading our predictions, part 3 Download PitchBook’s Report here. The past couple weeks we’ve been covering some of the PE predictions we made last year. We’ll be doing a much deeper dive on our upcoming free webinar, co-hosted with ACG. Here’s the registration link, and mark your calendars for December 17th if you’d like to join.Yours…
Top 100 Private Debt Fund Managers The private debt industry has been unceasingly growing over the last ten years, holding more than $786bn in assets as of March 2019, almost three times bigger as in December 2009 when there were $267.3bn in AUM. The 100 largest private debt fund managers have had a major role…
Direct lending reigns supreme despite risks A plurality of LPs plan on committing more to the strategy than any other credit product, our annual investor poll found. More covenant headroom, wider credit spreads and a mountain of capital: that’s how LPs view not just for the upper mid-market or the broadly syndicated market, but all…
Grading our predictions, part 2 Download PitchBook’s Report here. Last week we previewed our upcoming webinar with ACG on how our 2019 private equity predictions panned out. This week’s rearview assessments is one of our misses—we thought private debt fundraising levels would rebound off of a slower 2018. Slow being relative, as it was still one…
North America’s dominance shows in 15 largest global investors The biggest backers of the asset class generally reside in the world’s largest and most sophisticated alternative credit market. The top half of our inaugural Global Investor 30 rankings shows a worldwide embrace of the asset class, though there is a bias towards North America…. Subscribe
Oil and gas lending follows oil prices down The oil and gas industry is facing many challenges – recession fears, the ongoing trade war, regulatory shifts and excess global supply amid slowing growth in demand – all of which have curtailed any expectations of a meaningful increase in oil and gas prices. Oil prices have…
UK-Based Private Debt The UK-based private debt fundraising market saw a record 2017, with 29 funds closed raising an aggregate of almost $29bn in capital. The previous record year seen was 2015 with 22 funds securing $19bn, and so far this year there have been 22 funds closed and $27bn of capital secured…. Subscribe to