A quarter of megafunds Download PitchBook’s Report here. Global fundraising is on a healthy trajectory this year, according to PitchBook’s Q3 2023 Global Private Market Fundraising Report…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Private Middle Market Portfolio, Rating Activity Defaults in Fitch’s PMM portfolio persisted at a low level this quarter with two issuers defaulting, bringing the YTD total to 10 defaults across eight unique issuers on a portfolio including around 275 companies, although Fitch expects defaults in its PMM portfolio to increase in 2024…. Subscribe to
2023 US LBO purchase price multiples are the lowest since 2018 US LBO purchase price multiples have decreased two steps this year, to 11.2x on average, the lowest mark since 2018. At the same time, the average LBO purchase price has increased to US$4.86bn this year, the highest since the credit crunch year of 2007….
APAC takes a fundraising hit as China suffers After years of plenty, life has become much harder for fundraisers in Asia Pacific – especially for those with exposure to an ailing China. The overall trend of recent years has been for Asia Pacific private debt to gain traction among investors. In all, 32 APAC funds…
Private debt deal value in Canada rebounds in 2023 After a three-year slump, private debt disclosed deal value in Canada has nearly tripled, rising to $6.4bn in 2023 YTD from $2.2bn in 2022. Canada’s aggregate deal value grew 190% in 2023 compared to 2022, despite a 74% drop in aggregate deal value in the whole…
Fund managers will be put to the test In a challenging new environment, reporting and investing processes are likely to come under greater scrutiny. “Reputations will be made and lost in the next few years, and character will matter as much as technical brilliance,” one of a select group of investors told Private Debt Investor as we…
A symbol for the PE market Download PitchBook’s Report here. Buyout multiples have barely budged in 2023 and remain above the 11x threshold, according to PitchBook’s latest Quantitative Perspectives report, The Waiting Game…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Private Middle Market Portfolio, Rating Activity Upgrades/downgrades in Fitch’s PMM portfolio are generally skewed toward downgrades, as issuer ratings can be constrained on the upside based on limited scale…. Subscribe to Read MoreAlready a member? Log in here...
North American PD deal value in energy and utilities sector highest in five years Private debt deal activity in North America decreased in 2023 as aggregate deal value fell to $42.3bn in 2023 year-to-date (YTD) from $172.5bn in 2022…. Subscribe to Read MoreAlready a member? Log in here...
BDC credit quality continues to hold up BDC credit quality held up well across different metrics in the most recent quarter. The weighted average non-accrual rate for public and private BDCs combined slipped to… Subscribe to Read MoreAlready a member? Log in here...