ESG moves to centre stage But while progress is being made on the investment side, there are question marks over reporting. New research from trade body the Alternative Credit Council in partnership with law firm Allen & Overy reveals that private credit managers are accelerating the integration of environmental, social and governance issues into their…
Mega-funds lead PE fund returns Download PitchBook’s Report here. Global PE funds posted a quarterly record in the first quarter, returning 17.6%, according to PitchBook’s latest Global Funds Performance Report. Very active capital markets are helping boost quarterly return numbers to historical highs. Preliminary Q2 returns show some deceleration, estimated at 8.8%, but still well above…
Equity multiples average an all-time high 7.1x on middle market LBO deals this year US middle market LBO purchase price multiples have continued to move higher this year. Through the first nine months of the year, the average middle market LBO purchase price multiple was 12.1x, an all-time high, and 8% above last year’s previous…
New ways of accessing private debt for hungry LPs Permanent capital is the holy grail for fund managers looking to expand their fundraising potential even further. In the previous edition of PDI Picks, we provided a glimpse of our Global Investor 30 ranking of the largest LPs in private debt and included a table of…
Private debt sees leap in impact funds Private debt has seen a rise in the number of impact funds, defined as funds with the intention of generating a measurable, beneficial environmental or social impact alongside financial returns, being raised over the year, reaching a new high in 2021 with 12 funds either raising or already…
BDC visible loans benchmark shifts higher in 2021 BDC earnings season is underway with 22 funds having released their 3Q21 reports so far through November 3. This cohort of BDCs has seen their NAV per share increase by an average of 5.6% in the first three quarters of 2021. The appreciation in asset valuations this…
Add-ons now 73% of all buyouts Download PitchBook’s Report here. It’s getting repetitive, but the buy-and-build strategy is becoming the dominant approach for private equity. According to PitchBook’s latest US Breakdown Report, add-ons are comprising 73.2% of all buyouts this year. In 2007-2008, at the height of the buyout boom, the percentage was hovering around 50%….
Direct lending hoovers up private debt capital Direct lending has attracted more capital than any other debt strategy since 2016. The ability to reduce risk by moving further up the capital structure has appealed to private debt investors…. Subscribe to Read MoreAlready a member? Log in here...
Five observations from the Global Investor 30 There are no signs yet of the pandemic having had any negative effect on investor enthusiasm for private debt. We look at five takeaways from our latest ranking of private debt’s top LPs. 1. Appetite through the roof Our latest ranking of private debt’s 30 largest investors shows…
Middle market LBO direct lending surges to new heights It was a record setting quarter for middle market LBO direct lending in 3Q21, with volume surging to US$16.3bn, nearly double the 2Q21 level and 50% above the prior record set in 4Q20. On a year-to-date basis, the US$33.9bn of middle market direct lending LBO volume…