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Private Debt Funds in Market in Q2 2019 Through Q2 2019, new private debt funds have continued to come to market, and there are now a record 420 vehicles on the road. Having spiked to $192bn at the start of the quarter, though, the total capital sought in the asset class has fallen back toView Article
2Q19 non-sponsored lending jumped to its highest quarterly level in a year After a very slow start to the year, non-sponsored lending soared in 2Q19. At US$26bn, non-sponsored syndicated loan volume was up 81% from 1Q19, but was still down 15% year-over-year. The quarter-over-quarter increase in lending was driven by a big surge in refinancingsView Article
Private Debt Fundraising in Different Regions over H1 2019 Private debt fundraising started 2019 slowly, and in Q2 it has not picked up. Looking regionally, it appears that while prospects are good in North America, in Europe and Asia fundraising momentum has fallen to the mid-point of the year....View Article
12x the rest of the year? Download PitchBook’s Report here. Two quarters into 2019 and buyout multiples remain above 12x on a median basis, according to PitchBook’s recently released PE Breakdown Report. Quarterly readings from 2015 to early 2016 were in the 9.5x to 10.5x range, with multiples gradually building over time. Though high, investors haveView Article
Distressed managers find favour with investors in H1 2019 The biggest challenge for such shops will be where to find chances to deploy capital should no extended period of topsy-turvy markets ensue. Distressed debt fundraising has come back in a big way in the first half of the year, according to Private Debt Investor’s fundraisingView Article
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Third Quarter 2019
Beginning in April 2019 The Lead Left published a series of articles on valuations. This report consolidates those articles.
Beginning in February 2019 The Lead Left published a series of articles on leveraged loans and systemic risk. This report consolidates those articles.