Investors want more info on fees LPs said they often have a hard time justifying them within their organisations. More than half of investors in the past 12 months have asked for greater fee transparency and disclosure from their general partners, according to PDI Perspectives 2019, our annual survey of limited partners…. Subscribe to Read
Overview of Private Debt Fundraising in 2018 Private debt fundraising remained strong in 2018, making it the fourth consecutive year in which funds raised over $100bn. In 2018, 162 funds were able to secure an aggregate $110bn in capital. While this was slightly lower than the $129bn in capital raised in 2017, 2018 nonetheless represented…
2018 ended on a sour note and spreads looked set to continue their ascent throughout this year and beyond. But here we are, a little over a week into 2019, and the Markit iTraxx Europe is 10bps tighter than Dec 31 levels. A bumper non-farm payrolls report, a more dovish stance from the Federal Reserve,…
2018 US M&A loan volume sets new record at over US$648Bn At over US$648bn, US syndicated M&A loan volume set a new record in 2018, topping 2017’s high of US$537bn. The strong results were spread across market segments as corporate issuers looked to augment organic growth with strategic acquisitions and private equity sponsors aggressively looked…
2018: Almost a record Download PitchBook’s Report here. Thanks to a massive Q4 to close out the year, 2018 came close to setting a new record for combined deal value. About $277 billion was invested in Q4, versus a relatively paltry $198 billion invested in Q3 2018. Fourth quarters typically see the highest numbers in any…
Direct Lending Fundraising Dips in 2018 Total private debt fundraising fell in 2018, with 162 funds securing an aggregate $110bn throughout the year. In comparison, in 2017, 186 private debt funds held a final close and raised $129bn. Although direct lending continued to represent the largest bulk of fundraising activity, direct lending fundraising dipped steeply…
The mightier they are, the harder they fall Private debt hit a fundraising peak in 2017, which has proved impossible to sustain. It was the year when private debt came of age as an asset class, shattering the previous global aggregate fundraising total as GPs raked in a combined $211 billion according to PDI figures….
Discounts widen as volatility hits the primary loan market Loan market sentiment has shifted dramatically this quarter as broader market volatility sent waves into the leveraged loan market. Concerns about global growth, trade wars, Brexit worries, and uncertainty over future interest rate hikes have cast a shadow on confidence and investors are a lot more…
Why private credit firms and their LPs should make ESG a priority Environmental, social and governance policies provide another avenue of differentiation when all debt managers claim to have proprietary dealflow and the best downside protection…. Subscribe to Read MoreAlready a member? Log in here...
Are We on the Precipice of a Private Debt Crash? Private debt funds can act like a bank, providing loans to businesses are that are too small to go on the bond market, but which are also too big to solely rely on loans from their local credit union. This important financial model has led…