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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.
Going Concern
Asset valuations tops the worries confronting sponsors in meeting return hurdles.
One more sign fewer firms are raising more of the money
Fundraising data showed an acceleration of fewer vehicles collecting an outsized amount of capital; the amount raised in the first…
Loan Stats at a Glance - 4/29/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Markit Recap – 4/25/2019
Argentina and Turkey are firmly established as miscreants in emerging market credit. Both sovereigns have pollical and economic frailties that…
For Private Equity Investors: Which EBITDA Adjustments do you Employ Most Frequently?
The shift from syndicated to direct executions continues for MM LBOs
Since LPC began tracking the direct lending market in 2013/2014, there has been a continued shift for middle market LBO…
Special Report: Leveraged Loans and Systemic Risk
Beginning in February 2019 The Lead Left published a series of articles on leveraged loans and systemic risk. This report consolidates those articles.
Transact Documentation Scorecard and the State of Play for Smaller LBO Loans
Click here to download full report Though covenant-lite has become standard for even leveraged loans that sit at the high…
Wanted: European private credit co-investors
While private equity co-investments are broadly popular, such positions in private debt remain relatively rare, though they show room for…
Core MM had a big 2018
Download PitchBook’s Report here. The US middle market went gangbusters last year, setting records in both volume and dollars. Two of…
Covenant scores on large sponsored deals show relative improvement YTD
Source: Xtract Research While loan covenant protections remain extremely weak by historical standards, some comfort for lenders is that they…
Loan Stats at a Glance - 4/22/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Private Debt Intelligence - 4/22/2019
Private Debt Investors Remain Cautious [wpdm_package id=’24598′] During Q1 2019, private debt investors issued 249 fund searches and mandates for…







Why Valuations Matter (Fourth of a Series)
“Doubt is not a pleasant condition, but certainty is absurd.” –Voltaire The story of value is the story of private…