TheLeadLeft

Covenant Trends - 5/26/2025

Average New-Issue Clearing Spreads (Single B) and Covenant Terms for All First-Lien Institutional Loans (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com

PDI Picks – 5/26/2025

Safety first Amid a volatile macro-economic and geopolitical backdrop, private credit funds are doubling down their investments in trusted sectors. US tariff uncertainty is leading to a flight to safety among private credit funds, particularly in terms of sector specialisms…. Subscribe to Read MoreAlready a member? Log in here...

Letter from Tokyo (Second of a Series)

Last week we came to Tokyo for meetings with our investors and friends in the region, as well as participating in S&P’s stellar Structured Finance Seminar 2025. Along with almost 200 attendees we heard senior ratings analysts and leading CLO market participants discuss trends and outlooks for global leveraged finance, CLOs and other securitized strategies. …

Letter from Kuala Lumpur (Second of Two Parts)

APAC countries each have their own path to investing in alternatives and private capital. Most key Malaysian institutions began with private equity, venture capital, and real estate. Favored PE sectors include data centers, which in 2023 represented an astounding 90% of all privately funded deals in that arena.* Others were in the consumer, industrial, and […]