It was almost a clean getaway. Two years since it emerged, Covid was crumbling. Vaccinations and infection immunity were finally having an effect. Hawaii became the last state to announce an end to indoor masking… ▶︎ Read Mar 14 2022 newsletter: here ▶︎ Chart of the Week: here (by Nuveen, BEA, Bloomberg) (Any “forward-looking” information […]
Middle market multiples eased in 2021 Download PitchBook’s Report here. Middle market buyout multiples are returning to normalcy, according to PitchBook’s 2021 Annual Middle Market Report. The rolling three-year median settled at 12.5x in 2021, not much higher than the 12.3x median in 2019. The anomaly was 2020, which shot up to 14.0x. Most of that…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
While the war in Ukraine grinds along amid depressing headlines, investors of all stripes are settling into the view that economic effects of the war will be more local than widespread (see our Quote of the Week). Public equities in particular have recovered their value since Russia’s invasion of February 24, having priced in, for…
Secondary broadly syndicated loan prices have plunged during the Russia/Ukraine war.
BDC technology lending has grown rapidly Strong portfolio company performance has underpinned the positive environment for BDCs in recent quarters, with Ebitda and revenues moving significantly higher over the last two years. At the sector level, technology has outperformed. Against that backdrop, BDC managers shifted their allocations toward technology credits…. Subscribe to Read MoreAlready a
Sectors with exposure to oil & gas see prices fall in secondary market Source: Debtwire Par, Markit Since the Russian invasion of Ukraine started on 24 February, average bids on term loans have slumped more than 2 points, as high fuel costs paired with record inflation eat into the post-pandemic economic recovery. After reaching a…