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Debt takes a larger slice of the pie A new survey shows private credit’s solid performance makes it an investor favourite. Private credit is expected to be the fastest-growing part of institutional investor portfolios, according to research from consultancy bfinance....View Article
Europe slows down considerably Download PitchBook’s Report here. European PE activity hit a skid in Q2, as expected. According to PitchBook’s recently released Q2 European PE Breakdown, deal volume plunged to its lowest quarterly totals since Q3 2013. 650 transactions closed in Q2 for €79.8 billion, YoY declines of 31.5% and 18.7%, respectively....View Article
US debtor-in-possession loan volume surpasses US$10bn so far this year Completed US debtor-in-possession (DIP) loan volume is on track to reaching the highest annual level since the Great Financial Crisis, as many companies have struggled during the Covid-19 pandemic. Already this year there has been over US$10bn in completed DIP volume across 23 deals, withView Article
The Private Debt Market Continues to Grow The private debt industry has seen the growth in its AUM accelerate in recent years, and by December 2019 (our latest data available) funds held a total of $854bn in assets under management (AUM). The market is now more than three times bigger than it was ten yearsView Article
Venture-backed > PE-backed Private equity is losing its oomph as an M&A driver this year. PitchBook’s new North American M&A Report found that PE-backed M&A is now less common than venture-backed M&A, at least by volume. It’s the first switch between the two asset classes since 2009, which isn’t a coincidence. PE exits come toView Article
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Third Quarter 2020
Beginning in May 2020 The Lead Left published a series of articles on high yield bonds. This report consolidates those articles.
Beginning in March 2020 The Lead Left published a series of articles on Covid-19 and the market. This report consolidates those articles.