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US$93.8bn of CLO issuance priced and closed in 2021 to date In another indication of robust leveraged loan market activity in 2Q, the CLO calendar continues to grow at a record pace. There has been US$148.4bn of US CLO volume recorded so far in 2021, split between US$54.6bn of new issues, US$53.3bn of refinancings andView Article
A good start to the year for public PEGs Download PitchBook’s Report here. The “Big Five” PE firms that trade publicly—Blackstone, KKR, Apollo, Carlyle and Ares—had an impressive start to 2021. PitchBook’s latest analyst note takes a close look at their Q1 2021 financials, which showed sustained momentum coming out of the pandemic late last year.View Article
Remote due diligence is here to stay The challenges of life away from people and offices may have hindered private debt fundraising to an extent, but video meetings also have their supporters. Fundraising these days is a tough slog, right? Well certainly for private debt anyway, even if the still-surging private equity asset class managedView Article
North America dominates Q1 2021 PD fundraising North America-focused private debt managers closed 19 funds, raising aggregate capital of $18.4bn in Q1 2021, more than the other three regions combined. In comparison, the next largest region, Europe, saw seven funds raise $5.6bn....View Article
PE a growing force in M&A Download PitchBook’s Report here. Private equity is accounting for a growing share of M&A transactions. PitchBook’s just-released Global M&A Report shows that PE deals made up about 37% of all acquisitions last quarter, continuing an upward trend from the low 20s less than a decade ago. Last year PE transactionsView Article
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for Second Quarter 2021
Beginning in November 2020 The Lead Left published a series of articles on special purpose acquisition companies (SPACs). This report consolidates those articles.
Beginning in August 2020 The Lead Left published a series of articles on the state of private credit in a COVID environment. This report consolidates those articles.