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Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
2020 prediction – SWFs and pensions will become more sophisticated
Download PitchBook’s Report here. Sovereign wealth funds and public pensions financed private equity for years before they began co-investing in deals…
Fees are still a sticking point for private equity LPs
High fees have become a focus for critics of the industry, and fund managers will need to make their case…
DL Deals Monthly Scorecard: December buyouts swamped volume, lenders closed out 51 transactions
[wpdm_package id=’31357′] Buyouts swamped direct lending activity in December, accounting for 61% of volume, a big leap from the two…
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed)
Contact: Steven Miller
Back to Earth
2019 leveraged loan volume was off 35%; the second straight decline since the 2017 peak.
Loan repricing streak continues into 2020, spreads to single-B names
Source: Debtwire Par Institutional loan repricings have continued their hot streak into 2020, with USD 17.9bn of repricings in the…
Middle Market Deal Terms at a Glance - Jan 2020
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Private Debt Intelligence - 1/13/2020
Private Debt Fundraising Slows in 2019 [wpdm_package id=’31320′] More than 200 private debt funds closed in each year from 2015…
Loan Stats at a Glance - 1/13/2020
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
The Fran & Ran Show (Part I): 1Q20 Direct Lending Outlook, with Fran Beyers
#DirectLending #MiddleMarket
2019 US Syndicated loan volume down 20% compared to 2018 record high
At US$2.1trn 2019 U.S. syndicated loan volume was down 20% compared to the record setting US$2.6trn raised the prior year…
Average EBITDA Adjustment Cap for Synergies & Cost Savings
Contact: Steven Miller







2020 Hindsight
Remember your summer internships in high school? Neither do we. There’s a vague recollection of delivering mail for a financial…