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PitchBook’s new PE manager framework Download PitchBook’s Report here. PitchBook has developed a new framework to help analyze GP investing styles. Using the Herfindahl-Hirschman Index (HHI)—a metric that measures concentration—we can assign GPs a style score using their past investments as guideposts....View Article
Political headlines and investor pressure provide impetus for accelerated ESG discussions US President-elect Biden announced 10 executive actions that he will take on the first day of his presidency in January in an effort to combat climate change. This undertaking will run afoul of the Trump administration’s recent announcement that it will accept sale leaseView Article
Fund Manager Views on the Importance of Debt Lenders in the Next Five Years Private debt firms have stepped into a gap left by banks after the Global Financial Crisis and are focused on lower-risk credits. More than 30% of fund managers surveyed by Preqin for Future of Alternatives 2025 believe banks will be lessView Article
The pain is yet to come Plenty of capital has been raised in anticipation of a distressed opportunity that may take a while to materialise. Distressed debt has been a major focus for investors in recent years, as can be seen from our chart above. Although fundraising this year has been dealt a setback byView Article
LBO leverage multiples stay aggressive in 4Q20 After remaining extremely light the past two quarters, LBO activity has picked up, as private equity sponsors are putting more money to work. Through the end of last week, there was US$16.5bn in completed US LBO volume, 19% higher than year-ago levels....View Article
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Fourth Quarter 2020
Beginning in June 2020 The Lead Left published a series of articles on post-pandemic healthcare. This report consolidates those articles.
Beginning in May 2020 The Lead Left published a series of articles on high yield bonds. This report consolidates those articles.