Growth deals in vogue Download PitchBook’s Report here. One sea change in the post-COVID PE market is the surge in growth deals. According to PitchBook’s latest US Breakdown Report, both 2020 and YTD 2021 have exceeded the $75 billion line, and 2021 is the first year we’ve gone past $80 billion. We’re on pace to see…
Q3 aggregate capital raised increases across regions North America-focused private debt funds raised $26.8bn over Q3 2021, an almost 227% increase on the $8.2bn aggregate capital raised in Q3 a year earlier. The closing of the$11.7bn HPS Speciality Loan Fund V played a large role here, as well as the closing of two further $1bn+…
Wholesale is the top sector for non-sponsored MM volume this year US syndicated middle market non-sponsored volume totaled US$82bn in 1Q-3Q21, an over 80% increase year-over-year. Leading the way was the wholesale sector with US$9.5bn in volume, 102% higher than 1-3Q20’s level. Refinancing activity has been the big driver of wholesale issuance this year,…
The exit bonanza continues Download PitchBook’s Report here. Through Q3, PE exit activity is well into record territory, according to PitchBook’s latest US PE Breakdown. We’re estimating $638.3 billion in exited capital so far, including a blockbuster $283.7 billion exited in the third quarter alone. That’s a record by a wide margin, eclipsing the old record…
North America and Europe see number of fund closes rise A total of 22 North America-focused private debt funds closed in Q3 2021, a 47% increase on the 15 funds that closed during the same period in 2020. Although this is a substantial increase, it is much less than for Europe-focused funds, where there were…
Fundraising puts the pandemic in the rear mirror The year as a whole looks set to move comfortably past the total raised in 2020. Private debt fundraising had a tough time of it last year, fighting its way through the challenges of covid-19 and the enforced remote due diligence that it brought in its wake,…
Middle market non-sponsored syndicated M&A jumped to US$4.4bn in 3Q21 The non-sponsored middle market added another strong quarter to the books. While issuance was slightly down from 2Q21, it was a very busy summer with total volume of US$30.3bn in 3Q21. This was the highest level for a third quarter since 2014. Moreover, new money…
Q3 was another blockbuster Download PitchBook’s Report here. No rest for the weary: PitchBook’s latest US PE Breakdown is out, and the third quarter set another new record. An estimated $297 billion was invested in Q3 across an estimated 2,227 deals. Both would be new records, as data continues to be tabulated. The value mark, $297…
PD sees high levels of Q3 fundraising Although fundraising in Q3 is traditionally quiet, this past quarter has seen significantly higher fundraising than over the same period in previous years. Aggregate capital raised totalled $40.5bn in Q3 2021, compared to $14.3bn in the same quarter in 2020 and $28bn in 2019…. Subscribe to Read MoreAlready
Is distressed debt an old-fashioned notion? Traditional cycles may be a thing of the past – what matters is having the skills to take advantage of challenging situations. To say there’s no such thing as distressed debt any more perhaps suggests the kind of over-optimism associated with the claim that first emerged in the dotcom…