Loan Stats at a Glance – 10/5/2020
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
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Private Credit: What Recession?
We mentioned last week the SuperReturn North America Virtual conference, where we heard participants on the pandemic’s impact on private credit terms, structures and portfolio performance. But what about new business? A lot depends on managers’ strategies. Institutional investors had expected a downturn for a while. Significant capital was raised to take advantage of fall-out […]
The Pulse of Private Equity – 9/28/2020
Big firms hardly ever fail Download PitchBook’s Report here. PitchBook’s latest analyst note, “Risks and Returns in GP Stakes Investing,” takes a granular look at the burgeoning market for GP stakes. While there are many reasons to invest in smaller PE funds as a limited partner, the research shows that buying stakes in the GPs themselves…
Leveraged Loan Insight & Analysis – 9/28/2020
3Q20 US loan volume lowest since 1Q10; 1-3Q20 down 29% y-o-y Against the backdrop of a second quarter that saw GDP down 30% and a relatively orderly calendar of refinancings and repayment of loan drawdowns, 3Q20 marked a surprising bounce in in the market with GDP up an expected 20-25%, a surge in the equity…
Covenant Trends – 9/28/2020
Average Minimum Day-One Capped Basket Capacity, Quarterly Contact: Steven Miller
Private Credit – Better than Ever (Fifth of a Series)
Will investor worries about a recession’s impact on private credit come true? We asked this question at the end of last week’s installment in our special series on the “new” post-COVID private credit. With all the distractions related to the side-effects of the coronavirus on the economy and our daily lives, it’s a challenge to…
Chart of the Week: Close Watch
Middle market lenders report worsening performance of portfolio companies during the fourth quarter.