TheLeadLeft

“Slower, But Still Pretty Fast”

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We caught up recently with our chief investment strategist at Nuveen, Brian Nick, for a conversation on markets and the economy: “We are at an inflection point in two important respects; first, 4Q was the best quarter of 2021 from a GDP perspective. Last year growth was 5.5%, best since 1984. But even if we…

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Leveraged Loan Insight & Analysis - 1/31/2022

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New LBO loan assets increase as a proportion of total PE buyout activity Private equity sponsors actively tapped the loan market in 2021 to back over US$196bn in buyout activity, the second highest total on record and just behind 2007’s historic totals north of US$200bn. More significantly, over US$126bn or 64% of total issuance represented…

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The Pulse of Private Equity – 1/31/2022

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Quarterly IRRs returning to earth Download PitchBook’s Report here. PE performance bounced back strongly following the pandemic, but that momentum appears to be slowing. PitchBook’s just-released Global Fund Performance Report estimates a 3.4% quarterly IRR return for Q3 2021, where the data is preliminary. If that holds as we process more data, Q3 2021 will be…

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M&A Webinar: 2022 Outlook

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Last week we held our first “Lead Left Presents” webinar. 500 attendees heard four top middle-market investment bankers discussing what happened in the M&A market in 2021, and what’s to come for the year ahead. From a sector perspective, industrials were challenged in 2020, then bounced back sharply last year. Backlogs were “very strong” going […]