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Outlook For Unitranche Financing

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“The unitranche was invented in response to broken capital markets, when banks were backing away. Today it’s thriving when markets are booming.” The size of these financings has also grown dramatically. How large could they get? We remember the same questions being asked about broadly syndicated loans in 2007. If the largest direct lenders collaborate, […]

The Pulse of Private Equity – 9/6/2021

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Emerging manager performance Download PitchBook’s Report here. A new PitchBook analyst note, Beyond Fund I, dives into several emerging manager topics. A few surprises stood out. The chart above, for example, shows fairly static performance between a manager’s first fund and subsequent ones. Debut funds do, though, see the most performance variation compared to later funds,…

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Leveraged Loan Insight & Analysis - 9/6/2021

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BDC asset valuations post gains in 2021 BDC’s have benefited from rising asset valuations in recent months, with both loan and equity holdings posting gains. During 2Q21 (the most recent quarter for which data is available), the weighted average mark on BDC debt holdings climbed to 97.71% from 97.18% in the prior quarter and is…

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Supply Chain Blues (First of a Series)

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We’ve all been there. You try to re-order your favorite beverage, sneaker, exercise bike, or cleaning product, and it’s out of stock. The dynamics behind these supply chain issues differ depending on the situation. Some manufacturers are still playing catch-up with consumer demand in areas such as home improvement and fitness. Others are challenged by…

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