U.S. Alternative Investment Manager Ratings Stable Despite Challenging 2026 Click here to learn more. Fitch Ratings expects the credit profiles of rated alternative investment managers (alt IMs) to remain stable despite a difficult backdrop. Rated alt IMs benefit from investor consolidation, as periods of uncertainty increase demand for scaled, multi-strategy platforms…. Subscribe to Read MoreAlready
Yield premium on direct lender arranged MM sponsored deals tightened in 4Q25 Yields for large corporate and middle market(MM) sponsored loans – whether executed via the broadly syndicated or direct lender loan markets – tightened in 4Q25 amid abundant lender liquidity and inadequate supply of new deal flow to meet demand…. Subscribe to Read MoreAlready
New Year Kicks Off with Busy Month of Leveraged Loan Launches At $168.0b in launches through January 28th, the US institutional leveraged loan market has been off to a hot start in 2026, good for the seventh busiest month of launches on record. Following $57.5b launches during the week ending January 16th, issuers continued to…
KBRA DLD Default Indices(TTM 1/27/26) (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
LBOs and refinancing drive direct lending rebound in 3Q25 Direct lending volumes saw a substantial rise in 3Q25, climbing 26% quarter-on-quarter (QoQ) to USD 89.5bn from USD 71bn in 2Q25. Deal activity also increased, rising from 791 transactions in 2Q25 to 947 in 3Q25. The volume in 3Q25 was the second-highest quarter on record, narrowly…
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Average Minimum Day-One Capped Basket Capacity, YoY (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Median step-up from previous PE middle-market fund in fund family Download PitchBook’s Report here. As capital continues to concentrate among fewer managers, conditions have favored those raising larger vehicles. Eight funds of $1 billion or more held final closes in Q3, the most of any quarter this year…. Subscribe to Read MoreAlready a member? Log in
Investors still warming to private credit Our research finds more than half of LPs are wanting to increase their investment into the asset class. With the economic and geopolitical backdrop in 2026 continuing to be volatile – and, in some ways perhaps, becoming even more turbulent than last year – is there a danger of…
Over $3 Billion of Loans (at Cost) in Non-Accrual Status as of Q3’25 Mature Through 2027 Click here to learn more. Click here to download report. As markets search for signs of stress in private credit, Octus has focused on loans held by business development companies (BDCs) to identify key warning signals—particularly the uptick in…