PE middle market update Download PitchBook’s Report here. PitchBook’s Q2 US PE Middle Market Report releases today – download your copy here – and the headline numbers largely mirror the broader PE market. Deal volume cratered in Q2, as expected, falling from an estimated 789 deals in Q1 to 504 in Q2, a 36% drop. Combined…
A private credit practitioner would have found no better place to spend this week than at the SuperReturn North America Virtual conference. Your correspondent was honored to chair day one, moderate two lender panels and participate in a third. Our role also gave us a front row seat to hear GPs and LPs describe at…
Post-COVID direct lending spreads gapped out relative to middle market bank loans in the second quarter.
Loan issuance down sharply, portfolio managers concerned about future supply Source: Debtwire Par In contrast to the high yield bond market, institutional loan issuance since the start of April is down sharply year-over-year, posting roughly a 50% decline. In turn, issuance has struggled to keep up with demand recently even though demand falls short of…
Percentage of Deals with 75+ bps MFN Contact: Steven Miller
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Europe-Focused Private Debt Fundraising Private debt fundraising in Europe has continued to grow at a good pace over 2020 and amid the COVID-19 outbreak, it was relatively strong over the first half of 2020. In H1 2020, the 30 funds closed secured an aggregate $23.5bn in commitments – just under half the amount raised over…
Infrastructure debt’s strong foundations It’s an investment option that’s become big in Japan, but strong competition for deals casts a cloud. Infrastructure debt continues to attract interest from long-term investors. As can be seen from the chart above, fundraising reached a five-year peak in 2019 and was also strong at the beginning of this year…