Lead Left Presents: M&A Outlook
We’re kicking off the new year next week with our first “Lead Left Presents” webinar. Four top middle market investment bankers will be talking about the deal market, what happened last year, and what’s to come for 2022.
What’s motivating buyers and sellers? How did Covid impact processes and outcomes? How is extreme liquidity affecting the competitive landscape?
We’ll also look at sector behavior. Early in the pandemic you couldn’t give away cyclicals, retail, and travel and leisure. Today, as you’ll hear, everything is selling, and at high multiples.
How have different industries fared and how do bankers think about valuations? What’s the latest view of Covid adjustments to Ebitda? Are supply-chain issues putting a dent in growth and price expectations?
▶︎ Read Jan 10 2022 newsletter: here
▶︎ Chart of the Week: here (by Lincoln International’s Private Market Index)
(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
PE exit activity
Exit value fell to $102.6 billion in the second quarter—down 46.3% from the prior quarter and 7.4% YoY—while exit count dropped to 353, a 14.1% quarterly decline and a 5.4% rise against Q2 2025.
US BSL and MM CLO Performance Held Stable in July 2026
In July 2026, portfolio credit quality in reinvesting Fitch-rated U.S. BSL CLOs remained broadly stable from June. Net portfolio losses held at 0.5%. The Fitch weighted average rating factor also held at 23.1. The Fitch weighted average recovery rate declined slightly by 0.1%, while the weighted average spread fell by 0.01%.
