US syndicated middle market activity picks up the pace in 2Q21

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At over US$26bn through May 19, US syndicated middle market volume is just US$3bn shy of 1Q21’s full quarter level. The big difference maker has been sponsored middle market volume, which totals US$10.6bn in completed volume this quarter, already besting 1Q21’s US$9.8bn level.
 
LBO activity has been the driver of sponsored volume, totaling US$3.2bn so far this quarter, on pace for the highest quarterly level of LBO volume since the onset of the pandemic.