Glasses Half Full (Last of a Series)
In conversations with dozens of institutional investors over the past several months, consistent themes recur. First, there’s the sense of continually being bombarded by unexpected bad news rocking markets…
▶︎ Read Mar 27 2023 newsletter: here
▶︎ Chart of the Week: here (by Lincoln Proprietary Database (Interest Coverage Ratio = Ebitda – Capex/Actual LTM Interest))
(Any “forward-looking” information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.)
Latest news
U.S. LevFin markets steady in 2Q26; credit quality divide widens
North American leveraged finance markets remained active in 2Q26, but performance gaps across credit tiers widened, according to a new Fitch Ratings report.
Lack of new issues clouds CLO market
It’s been boom time in the leveraged loan market but now that market has eased off, what are the implications…
Multiples on PE buyouts
This quarter marks our integration of SPI by StepStone as the primary source for US buyout valuation metrics for the PE Breakdown.