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Going forward, we expect that returns will be driven by disciplined buying and operational value creation, rather than the macroeconomic tailwinds that did much of the work in the 2010s cycle. Altogether, the lower middle market stands out as an opportunity today: less competition, lower multiples, lower leverage, and higher historical returns point to significant upside potential in this segment of the market.
Latest news
US Leveraged Loans Return 3.36% to Investors YTD
The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.96% in August and has gained an additional 0.28% through September…
PE dry powder
The capital that is being raised is flowing overwhelmingly to the largest, most established managers.
Middle market debt held by BDCs vs High yield vs Treasury yields
The blue line represents the current dividend yield of the VanEck BDC Income ETF (BIZD), which stood at 11.7% as…