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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.
Lead Left Interview - Tim Hopper
This week we chat with Tim Hopper, founder of Macro Fund Advisors. Previously Tim was managing director and chief economist…
Private Debt Intelligence - 10/30/2017
Asia-Focused Distressed Debt Fundraising [wpdm_package id=’14958′] Over the past ten years, 26 Asia-focused distressed debt funds have closed, securing $7.8bn.…
Loan Stats at a Glance - 10/30/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Lead Left Interview - Niels Bodenheim (Part 2)
This week we continue our conversation with Niels Bodenheim, senior director of debt research for bfinance. bfinance is an investment…
Covenant Trends - 10/23/2017
Average Additional General Purpose Debt Capacity for M&A-Related Loans (2017) Contact: Steven Miller smiller@covenantreview
Leverage levels diverged on middle market sponsored deals in 3Q17
When it comes to lending to smaller issuers, bank and non-bank lenders have very different risk tolerances in today’s market.…
Feels like the first time
Download PitchBook’s Report click here. Like Aaron Judge of the New York Yankees, rookies are sometimes better than the veterans.…
Blending Down
After slow declines in the past three years, unitranche spreads have dropped dramatically, thanks to competitive first lien/second lien structures.
Private Debt Intelligence - 10/23/2017
Direct Lending Drives Private Debt Performance [wpdm_package id=’14820′] Preqin’s latest review of private debt fund performance finds that direct lending…
Loan Stats at a Glance - 10/23/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Markit Recap – 10/16/2017
Wind CDS orphaned? We noted last month that orphaned CDS seemed to be on the rise, with both EDP in…
Strong investor appetite supports institutional issuance but tougher credits command better terms
Despite robust market technicals including two weeks of retail fund inflows and a steady CLO pipeline, institutional lenders are reconciling…
Special Report: How Big is the Middle Market?
Beginning in July 2017 The Lead Left published a series of articles on the size of middle market. This report consolidates those articles.










Spot-lite on Cov-lite (Final of a Series)
Blame it on the Vikings. When those ancient Scandinavians settled Iceland around 870 AD, they cut down most of the…