Chart of the Week: Interesting Rates
Expectations for an improved economy has driven yields and time to a Fed hike in opposite directions.
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PDI Picks – 2/22/2021
The climate change debate heats up Private debt managers have not been at the forefront of ESG in the past but times are changing. When we canvassed the opinions of limited partners about how seriously private debt fund managers take climate change, the responses were not exactly a ringing endorsement. Just 4 percent told our…
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Loan Stats at a Glance – 2/22/2021
Contact: Marina Lukatskymarina.lukatsky@spglobal.com
2020: The M&A Big Bang
We conclude our special series, “Five Biggest Private Capital Surprises of 2020,” with: Surprise #5: The M&A Big Bang Last July published a white paper on COVID-19 and M&A Activity. It was called “COVID-19 and M&A Activity”. Besides logistical challenges, there were worries about second and third infection waves. “We’re expecting a light second half,” […]
Debtwire Middle-Market – 2/15/2021
Source: Cliffwater Direct Lending Index and BofA Merrill Lynch US High Yield Effective Yield The red line in the chart is the *Cliffwater Direct Lending Index (CDLI) current yield, which is based on the investment income of the underlying assets held by public and private BDCs. BDCs invest in middle market companies, and the Index…
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Covenant Trends – 2/15/2021
Average Adjustments for EBITDA Reconciliation, M&A-Driven Loan Deals Contact: Steven Miller
Leveraged Loan Insight & Analysis – 2/15/2021
Institutional loan refinancings jump in January to $39bn Refinancing deals dominated the institutional loan market in January, with US$39bn in volume for a 71% share of overall institutional loan activity, up from US$11.6bn in December and the highest monthly volume since pre-Covid February 2020…. Subscribe to Read MoreAlready a member? Log in here...
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The Pulse of Private Equity – 2/15/2021
A good year for the Big Five Download PitchBook’s Report here. The Big Five public PE firms—Blackstone, KKR, Apollo, Ares and Carlyle—had a good 2020 across several metrics, according to PitchBook’s latest analyst note. All five firms posted YoY fee-related earnings (FRE) growth, with Blackstone notching the highest gain. In terms of annual financials, four of…
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2021: The Great Reception (First of a Series)
It was just another painful ramification of the pandemic. We’re referring, of course, to the nationwide absence of Grape-Nuts on supermarket shelves. Graver consequences of COVID-19 abound, but the whole point of comfort food is to be there in times of duress. First produced in 1897 by Mr. C.W. Post, Grape-Nuts contains neither grapes nor…
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LevFin Insights: High-Yield Bond Statistics – 2/15/2021
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com