U.S. Private Equity’s Overhang Remains Significant At times nowadays, U.S. private equity firms look like they may well become victims of their own success. The top tier of investors has been able to outperform public markets to such an extent that they are still attracting plenty of capital commitments from numerous limited partners…. Subscribe to
For the first time since late 2011, the net percentage of domestic banks reporting tightening terms over the past three months turned positive. Specifically, 8.8% of domestic banks reported tightening credit standards for approving applications for C&I loans or credit lines other than those used to finance mergers… Subscribe to Read MoreAlready a member? Log
It is a truism that the finances of countries, as well as companies, feel the impact from declining commodity prices. This can be good for energy importing nations, and the positive effect on consumption can boost economic growth. But for commodity exporters it is obviously detrimental. A prime example is Kazakhstan…. Subscribe to Read MoreAlready
Commodity trading firms – which store, transport and process raw materials such as crude oil, wheat and copper – are obtaining favorable terms on their European syndicated loans despite a global commodities rout which has seen the price of many commodities cut in half over the past year and threatens commodity… Subscribe to Read MoreAlready
Median Hold Period for U.S. Middle Market Companies Drops for First Time in Years Private equity’s ‘hangover’ from the buyout boom era, with steadily aging investments skewing median holding periods for portfolios ever upwards, has been well-documented. PE holdings in the U.S. middle market—which has become increasingly popular among… Subscribe to Read MoreAlready a member?
In bond markets, liquidity can be described as the ability to transact with size, at low cost and with minimal price impact. The topic has been of much conversation over the past few years as market participants fret over the potential systemic risks that can arise from illiquid bond markets. While overall consensus is that…
Could PE’s role in the M&A boom reverse? Fueled by a variety of factors including the historically unprecedented run of low interest rates, mergers and acquisitions are on pace to hit a record in terms of value this year. Private equity players have not had as big a role in the boom this year as…
Mezzanine volume in the middle market only reached about $800 million in 3Q15, over 30% lower than the $1.2 billion tracked in 2Q15. Over the years, mezzanine has been pushed down market and has been more commonly structured on lower middle market issuers with less EBITDA and less leverage…. Subscribe to Read MoreAlready a member?
The last few months have proven to be a volatile time for the HY market, highlighting the risks involved in the asset class. But with significant yields on offer and different markets to explore, HY bonds remain a quandary for investors. The recent volatility can be illustrated by looking at recent returns. September saw US…
In sync with the broader leveraged cash flow market, asset-based lenders struggled to source new dealflow in 3Q15. At just over US$19bn, 3Q15 ABL volume was modestly higher from 2Q15 totals to bring year to date volume to US$58.5bn, down nearly 13% compared to the year ago period. More noteworthy,… Subscribe to Read MoreAlready a