The notion of a post-rate world is arguable, as anyone in the capital markets over the past two decades would attest. But with so many variables in today’s crosswinds, investors in private capital believe that, as a relative matter, the direction of interest rates is less significant than how tariff policies will roll out in […]
Private debt rolling one-year horizon IRR by type Download PitchBook’s Report here. Of the major substrategies, mezzanine funds led for five consecutive quarters until Q2 2024, when the strategy fell to third…. Subscribe to Read MoreAlready a member? Log in here...
Source: SPP Capital Partners Contact: Stefan Shaffersshaffer@sppcapital.com
Launch Drought Extends to 14 Days, Setting Bleak New Record Click here to access Bloomberg’s US Leveraged Finance Chartbook Wednesday, April 16th was the 14th business day running without a leveraged loan launch, marking the longest such primary issuance draught since Bloomberg began tracking the data in 2013…. Subscribe to Read MoreAlready a member? Log
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Source: VanEck BDC Income ETF, BofA Merrill Lynch US High Yield Effective Yield The blue line in the chart is the current dividend yield of the *VanEck BDC Income ETF (currently at 12.1% as of 14 April) that tracks the overall performance of publicly traded business development companies (BDCs, are lenders to privately held middle-market businesses…
Inflows, Competition to Pressure Perpetual BDC Earnings, Asset Quality Click here to learn more. The elevated competitive underwriting environment for business development companies (BDCs) will persist in 2025 due to significant capital being raised, especially in perpetual, non-traded BDCs amid sluggish M&A activity. The difficult environment will negatively affect earnings and asset-quality metrics, while also…
US institutional loans pipeline grinds down to US$5.1bn amid tariff whiplash Early in the second quarter, the institutional loan calendar stands at just over US$5bn, the lowest level in 5 years…. Subscribe to Read MoreAlready a member? Log in here...
Average EBITDA Adjustment Cap for Synergies & Cost Savings (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
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