Our friends at William Blair ended their 3Q survey with issues most impacting leveraged loans through year-end. Here are a few: Supply/demand equilibrium. Which comes first, supply or demand? Retail cash inflows and CLO capacity largely drive liquid loan demand. With private credit, it’s all about manager dry powder. There’s plenty of that. But as […]
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
BDC portfolio loan coupons tighten significantly in 2021 The huge growth of fundraising in the direct lending market and the resulting need to put money to work has pressured loan coupons across market segments this year. The robust lender appetite has enabled borrowers to refinance more expensive debt while allowing sponsors to tap the market…
Private debt fundraising: As top-heavy as it’s ever been Download PitchBook’s Report here. Globally, private debt fundraising is on pace for another strong year. According to PitchBook’s latest Private Fund Strategies Report, about $138.0B has been raised this year across 137 new funds. By combined value, that’s in line with recent years, but the number of…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
As investment managers run through the tape towards an incredibly productive 2021, many are now looking ahead to 2022. What will the new year bring? Two years ago no one could have foreseen the imminent downturn or the agent that caused it. Nor one year ago were the course of the pandemic, vaccines, or 25%…
Not since Spiro Agnew resigned the Vice-Presidency has receiving goods been so long delayed.
Private debt investors back consumer spending growth Private debt investors have been active deploying capital in consumer discretionary businesses. With 110 transactions recorded in 2021 YTD, consumer businesses accounted for 10% of all private debt investments. Analysis of deal types in the sector shows growth focus of private debt transactions and the symbiotic relationship between…