2025 Kicks off with Record Wave of Leveraged Loan Launches At approximately $199.4b through January 29th, the new year has picked up right where 2024 left off in terms of record levels of US institutional leveraged loan launches. That amounts to a new record after surpassing December 2024’s $187.9b, as issuers have continued to pile…
Fitch U.S. MM CLO Spotlight – December 2024 Click here to learn more. Exposure to assets with Fitch IDRs or credit opinions of ‘CCC+’ or below, excluding non-rated assets, has slightly decreased since last quarter and the same period last year, now standing at 18.5%, down from 19.3% last quarter and 18.9% last year…. Subscribe
US industrials PE deal activity Download PitchBook’s Report here. Industrials PE activity was relatively strong in 2024, with industrials seeing an estimated 1,799 deals and $135.8 billion in deal value—accounting for 21.2% of total deal activity by deal count during the period, compared with an average of 24.5% of total deal activity over the past five years…. Subscribe to Read
Total leverage on sponsored MM deals inched down in 4Q24, driven by lower junior leverage Total leverage on sponsored middle market deals inched down to 4.70x on average in 4Q24, driven by lower junior leverage. First-lien leverage came in at 4.48x in 4Q24, up from 4.46x in 3Q24, while junior leverage declined to 0.22x from…
Allocations on the up As a relatively young asset class, private debt still has plenty of room for bigger LP commitments. Insurers are leading the way. You don’t have to look too hard in the financial press to find commentary suggesting that insurance and private credit are a match made in heaven given the way…
Top Bookrunners Drive 2024 US Leveraged Loan Volume Amid record issuance in the leveraged loan market in 2024, where institutional issuance exceeded $1.33t, Bank of America was the most active bookrunner, participating in 953 US leveraged loan deals with an annual credited bookrunner volume of over $172b. Following BofA was JP Morgan at $167b across…
Hurdle and carry rates climb for riskier private debt strategies Read more in ‘Preqin 2025 Global Report: Private Debt’ Incentive payments to private capital GPs have two main variables, the hurdle rate and carried interest…. Subscribe to Read MoreAlready a member? Log in here...
Fitch U.S. MM CLO Spotlight – December 2024 Click here to learn more. Join Fitch for the upcoming Outlook panel: Credit Outlook 2025 Private Credit At the end of 2024, 24 CLOs had exposure to at least one defaulted or deferring issuer…. Subscribe to Read MoreAlready a member? Log in here...
Platform LBO and growth equity deals as a share of all US PE deals Download PitchBook’s Report here. Growth equity continues to represent an outsized share of deals…. Subscribe to Read MoreAlready a member? Log in here...
Leveraged Loan Survey Results: What do you expect for M&A/LBO deal flow in 2025 New year, new administration and improving US economic outlook have combined to bring a much needed boost to market psyche when it comes to hopes for new money deal flow in 2025…. Subscribe to Read MoreAlready a member? Log in here...