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Wholesale is the top sector for non-sponsored MM volume this year US syndicated middle market non-sponsored volume totaled US$82bn in 1Q-3Q21, an over 80% increase year-over-year. Leading the way was the wholesale sector with US$9.5bn in volume, 102% higher than 1-3Q20’s level. Refinancing activity has been the big driver of wholesale issuance this year,View Article
The exit bonanza continues Download PitchBook’s Report here. Through Q3, PE exit activity is well into record territory, according to PitchBook’s latest US PE Breakdown. We’re estimating $638.3 billion in exited capital so far, including a blockbuster $283.7 billion exited in the third quarter alone. That’s a record by a wide margin, eclipsing the old recordView Article
North America and Europe see number of fund closes rise A total of 22 North America-focused private debt funds closed in Q3 2021, a 47% increase on the 15 funds that closed during the same period in 2020. Although this is a substantial increase, it is much less than for Europe-focused funds, where there wereView Article
Fundraising puts the pandemic in the rear mirror The year as a whole looks set to move comfortably past the total raised in 2020. Private debt fundraising had a tough time of it last year, fighting its way through the challenges of covid-19 and the enforced remote due diligence that it brought in its wake,View Article
Middle market non-sponsored syndicated M&A jumped to US$4.4bn in 3Q21 The non-sponsored middle market added another strong quarter to the books. While issuance was slightly down from 2Q21, it was a very busy summer with total volume of US$30.3bn in 3Q21. This was the highest level for a third quarter since 2014. Moreover, new moneyView Article
Beginning in March 2021 The Lead Left published a series of articles on reflation and inflation. This report consolidates those articles.
Beginning in June 2021 The Lead Left published a series of articles on the state of private credit in Europe. This report consolidates those articles.
Economic and Market Overview Broadly Syndicated Market-Observations A View on Private Credit Login to view interactive report and download PDF version. ...