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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.
Institutional term loans spreads are back to 2007 levels
Average spreads on first-lien institutional term loans have dropped to their lowest level since 4Q07. The drop has been across…
Middle Market Deal Terms at a Glance - Mar 2018
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Bad news bears: a sign of the times
Bad news bears: a sign of the times Last year saw a huge amount of money raised by private credit…
Lead Left Interview - Dee Dee Sklar (Part 2)
This week we continue our conversation with Dee Dee Sklar, Vice Chair of Subscription Finance, Asset-Backed Finance, Wells Fargo Securities.…
Dance with the one who brought you
Download PitchBook’s Report click here. Limited partners have found plenty to complain about over the years. They aren’t high maintenance…
Risk and Return
Middle market loans sold to institutional investors are showing higher leverage, but also better yields.
Private Debt Intelligence - 3/12/2018
Investors Remain Satisfied with Private Debt [wpdm_package id=’17094′] In December 2017, Preqin surveyed a sample of the private debt investor…
Loan Stats at a Glance - 3/12/2018
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Covenant Trends - 3/5/2018
Average Free-and-Clear Dollar Cap as a Multiple of Pro Forma Adjusted EBITDA Contact: Steven Miller
U.S. large corporate LBOs are averaging bigger, more expensive deals so far in 2018
Register now for LPC’s 6th Annual Middle Market Loans Conference – April 25, 2018 at the NY Marriott Marquis! While it…
A Decade of Leading Left
Ten years ago Churchill launched a weekly internal newsletter called “On The Left.” The world of March 2008 was a…
Four years’ worth of powder
Download PitchBook’s Report click here. Much has been said about PE dry powder levels, which continue to peak year after…
Broad Buyouts
While leverage for institutional middle market LBOs has ticked up over 6x, the club market remains 1.35x lower.







Dream Jobs
News reached us last weekend of an incredible message-in-the-bottle story. Turns out a woman strolling a beach in Western Australia…