The middle market had a huge fourth quarter Download PitchBook’s Report here. PitchBook’s latest Middle Market Report is now live, and the fourth quarter sure delivered. Our analysts estimate deal flow more than doubled between Q3 and Q4, from 667 deals to 1,428 deals to close out the year. Dollars invested came close to doubling as…
Women in Private Debt Across alternatives assets, the proportion of female employees rose to 20.3% by the end of 2020, compared to 19.7% in November 2019. In private debt, women account for just under a fifth (19.9%) of all employees at private debt firms…. Subscribe to Read MoreAlready a member? Log in here...
The new normal is the old normal After a brief period of change, deals are starting to look very similar to how they did pre-covid. “It’s amazing how quickly the snap-back has happened,” said Richard Olson, a London-based managing director at investment bank Lincoln International, reflecting on how private debt deal terms have quickly reverted…
Introducing PitchBook’s Capital Call at Risk metric PitchBook is rolling out a new framework for our LP clients to prepare them for worst-case capital call scenarios. We’re calling it the Capital Call at Risk (CCaR) metric, which is based on the Value at Risk (VaR) framework popularized by JP Morgan in the 1980s…. Subscribe to
US CLO portfolio trading activity mirrors strong secondary Of the US$261bn in trading activity by US CLO managers in 2020, asset selling peaked at 41% of activity in the second quarter, at the height of the pandemic. Selling slowed to only 36% of US CLO managers’ trading activity by year-end, with purchases climbing to 64%…. Subscribe
IPE Real Assets – Real Estate & Infrastructure Fundraising Real Estate Fundraising Real estate fundraising activity started at a slow pace in 2021. So far in 2021 (as t 10th March 2021) just 34 funds have been closed raising $15bn. In terms of capital raised, Q1 2021 has registered the lowest figures since Q1 2013….
The allure of Asia Pacific Investors have set their sights on the region, perhaps noting the tightness of the documentation. Past research by Private Debt Investor has found Asia Pacific only accounting for around 5 percent of global private debt fundraising, with capital committed to the region a drop in the ocean compared with North…
US$480.5m of defaulted loan debt in the retail andsupermarkets sector held in active U.S. CLO collateral There was US$480.5m of defaulted loan debt from 14 different borrowers in the retail and supermarkets sector that was held in active US CLOs as of the end of January. However, only two issuers accounted for three fourths of…
More nuance around first-time funds Download PitchBook’s Report here. Past PitchBook research has found statistical outperformance for first-time PE funds compared to follow-on funds. That note was one among many studies that arrived at the same conclusion: first-time funds tend to do relatively well, for a variety of reasons. PitchBook just released a follow-on note (so…
Fund Manager Views on Where They are in the ESG-Implementation Lifecycle Private Debt fund managers are lagging on ESG implementation compared with other asset classes. From a survey conducted by Preqin to fund managers, only 11% of private debt fund managers are at the mature stage of the ESG implementation lifecycle, compared with 27% of…