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The Pulse of Private Equity – 8/9/2021

A recovery in private debt performance Download PitchBook’s Report here. As an asset class, private debt experienced its worst performance in a decade in Q1 2020. According to PitchBook’s latest Global Private Debt Report, private debt funds fell by 7% that quarter on a pooled IRR basis, which includes both realized and unrealized changes to portfolio…

“$2 Billion is the New $1 Billion”: Unitranche Revisited (Second of a Series)

According to Refinitiv LPC, US unitranche volume came to almost $22 billion last quarter – the highest level they’ve tracked historically. That activity was comprised of records for both the middle and the larger corporate markets. At the same time, one-stop risk/return dynamics have moved in favor of issuers. The average debt/ebitda is now at a…

Unitranche Revisited: A New Series

In October 2015 we published a white paper: “The Unitranche – What it is, and Why it Matters.” In it we called the unitranche “one of the most innovative, and increasingly popular, financing tools in the middle market.” The following year Ares reached a milestone by leading, for Thoma Bravo’s Qlik Technologies, the first $1 […]

Private Debt Intelligence - 8/9/2021

Europe outraises North America in Q2 Globally, both the number of private debt funds in market and the amount of capital targeted continued to rise through Q2 2021. North America-focused funds saw the largest number of closes over Q2 2021, with 27 funds compared to Europe’s eight…. Subscribe to Read MoreAlready a member? Log in