The U.S. Company Inventory is Plateauing One of the concerns facing private equity over the past few years is the rising number of companies under PE control. The U.S. company inventory,… Subscribe to Read MoreAlready a member? Log in here...
Commentators on the financial markets can sometimes be prone to hyperbole, but it is surely no exaggeration to state that the next few days are crucial in determining sentiment for 2015 and beyond. First up is the ECB, and the expected QE announcement…. Subscribe to Read MoreAlready a member? Log in here...
First-lien institutional yields have widened so far in January to levels not seen since July 2012. The average first-lien term loan B yield is 6.39 percent so far this month, up from 6.11 percent in December. After… Subscribe to Read MoreAlready a member? Log in here...
Record Year for Middle Market The U.S. middle market is usually responsible for ~60% – 70% of PE activity in any given year. Not in 2014. Last year the middle market accounted for 78% of all PE activity by count,… Subscribe to Read MoreAlready a member? Log in here...
The precipitous decline in the oil price has taken some of the attention away from Greece, albeit until the elections next week. Less than four months ago the price of WTI crude was more than $100 a barrel; now it is languishing below $50…. Subscribe to Read MoreAlready a member? Log in here...
At $940 billion, leveraged loan issuance fell 17 percent from 2013’s record, as opportunistic refinancings fell 38 percent to $547 billion on the back of periods of volatility and slowing retail demand. Although top line figures were dragged down by the decline in refinancing volume, the 21 percent jump in leveraged… Subscribe to Read MoreAlready a
Expect More of the Same in 2015 Final PE numbers for 2014 are in. U.S. deal flow nearly matched 2013 levels at 2,955 investments, but the bigger story was in total value, which grew to $523 billion over 2013’s $501 billion…. Subscribe to Read MoreAlready a member? Log in here...
It seems like an aeon ago that a relatively small country in south-eastern Europe held the fortunes of the global economy in its hands. But less than two years has passed since Greece’s debt was restructured, and it is all too apparent that the sovereign still has the capacity to create a noise that belies its modest…
At $2.1 trillion in 2014, overall U.S. syndicated lending was just shy of 2013’s $2.14 trillion record. M&A-related financings, at $457 billion, were up 27 percent from 2013 and approaching 2007’s $471 billion record. Including financings for Burger King and Community Health Systems, leveraged… Subscribe to Read MoreAlready a member? Log in here...
The “new normal” has arrived We’ve been highlighting the increase in add-on and minority deals for a while. In some respects the rise of buy-and-build and non-control deals has reflected the tough deal-making… Subscribe to Read MoreAlready a member? Log in here...