KBRA Direct Lending Deals: News & Analysis – 6/16/2025
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
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The Pulse of Private Equity – 6/16/2025
Alternative asset manager deal activity ($B) Download PitchBook’s Report here. Deals involving GPs as an acquiree or investment target saw record activity in 2024, with 141 deals worth an aggregate deal value of $47.9 billion…. Subscribe to Read MoreAlready a member? Log in here...
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Leveraged Loan Insight & Analysis – 6/16/2025
Bank loans, high-yield bonds provide boost to levfin origination in May US leveraged finance issuance reached nearly US$127bn in May, up more than 60% from April’s US$78bn pipeline…. Subscribe to Read MoreAlready a member? Log in here...
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PDI Picks – 6/16/2025
Families turn to private credit The asset class is moving beyond its traditional institutional investor base. Where insurance firms, pension schemes and other institutional investors have ventured en masse, family offices are increasingly dabbling in what, for many of them, is a new area. Their average allocation to private debt doubled from 2 percent to…
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Chart of the Week: Midcaps Motor On
Through Covid and rate hikes, middle market loan issuance has tracked up. Source: LevFin Insights, a Fitch Solutions company
Private Credit – The Final Reckoning (Second of a Series)
Those who talk about risks in private credit should also keep in mind that investors always look at relative risk. For example, Moody’s analysts observe that without a sustained downturn since the GFC, “private credit has not been truly tested, only quizzed.” Fair enough. But how did public credit fare over that period? As the…
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Letter from Tokyo (First of a Series)
We began our visit to Tokyo this week attending S&P’s Structured Finance Seminar 2025. Along with almost 200 Japanese bankers and investors, we heard senior ratings analysts and leading CLO market participants discuss trends and outlooks for global leveraged finance, CLOs and other securitized strategies. Our panel was entitled, “Private Credit, Middle Market CLOs and […]
Middle Market & Private Credit – 6/9/2025
Private Credit’s Growing Complexity Untested Through Market Cycles Click here to download report. Do Banks Face Financial Stability Risks from Private Credit (PC) Exposure? The financial stability risks from banks’ direct exposure to PC are currently limited despite its rapid growth over the last several years. This is largely due to the typical structure of…
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Bloomberg: Leveraged Lending Insights – 6/9/2025
US Leveraged Loan Issuance Picks Up in May, Accelerates in June Click here to access Bloomberg’s US Leveraged Finance Chartbook May’s 41 deals for $31.6b was up $21.4b, or 210% from April’s $10.2b, bringing year-to-date volume to $381b (down 31% from last year). In percentage terms, May’s rebound from April is the strongest since last…
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Leveraged Loan Insight & Analysis – 6/9/2025
Loan funds post 4 consecutive weeks of inflows Following the bout of market volatility and accompanying large outflows posted in April, both loan funds and high yield bond funds have turned the corner and posted inflows in recent weeks as investor sentiment improved across asset classes…. Subscribe to Read MoreAlready a member? Log in here...
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