Quarterly buyout volume reaches new heights in 3Q21 Source: Dealogic, Debtwire Par Institutional loans supporting buyout activity jumped to USD 21.1bn in September, bringing the quarterly figure to USD 52.4bn and surpassing the previous quarterly high of USD 48.9bn set in 2Q21. High yield bonds similarly saw buyout issuance spike in 3Q21, to USD 13.9bn,…
Dry Powder for Direct Lending Senior Debt at Record High Almost 60% of dry powder in direct lending is allocated to senior debt, with $103.9bn available for investment worldwide as of October 2021. The majority of this, $73.8bn, is with North America-based fund managers, with European fund managers coming in second with $22.5bn…. Subscribe to
1-3Q21 leveraged issuance sets new record at US$1.3Tr U.S. bank arrangers completed over US$250bn of leveraged loan issuance during the quarter, the strongest 3Q results since 2017 as liquidity and a resurgence of sponsor activity buoyed the market. At almost US$935bn, leveraged loan issuance for the first nine months of the year was just shy…
PE’s growth compared to the public market Download PitchBook’s Report here. As an asset class, private equity’s growth has exploded over the past two decades. According to PitchBook’s latest Quantitative Perspectives Report, there are now twice as many PE-backed companies as there are public companies in the United States. Those numbers, aided by figures from the…
Even in normal times, private equity sponsors pay ruthless attention to cost structures of portfolio companies. Covid has raised to new levels the challenges buyers have managing supply chains. “Eighteen months ago, Covid was a top-line issue; now it’s mostly a cost issue,” one partner told us. “We can pass price increases along, but with […]
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Last fall, the Harvard Business Review examined Covid’s impact on supply chains [link]. The pandemic, they wrote, “exposed vulnerabilities in the production strategies and supply chains of firms just about everywhere,” The study also presciently identified “the growing electronics content in modern vehicles” as a potential bottleneck. Today we are witnessing how the shortage of…