M&A EV/revenue multiple for deals between $25 million and $1 billion Download PitchBook’s Report here. Middle-market valuation multiples are pointing to an increasingly liquid M&A market with valuation expectations broadly aligned with the 2017-2019 range, setting aside the distortions of the pandemic era…. Subscribe to Read MoreAlready a member? Log in here...
Dividend Loan Issuance Through Q3 Sets New Record Click here to access Bloomberg’s US Leveraged Finance Chartbook Through September 23rd, US institutional loan issuance tied to dividend payments has reached $23.06b, setting a record for the year-to-date period and surpassing the $19.64b in dividend-related volume seen through the same point in 2021…. Subscribe to Read
Private credit and bank lenders struggle to meet middle market lending targets in 3Q25 The vast majority of middle market lenders have found sufficient opportunities hard to come by in the most recent quarter, according to LSEG LPC’s Middle Market Outlook Survey…. Subscribe to Read MoreAlready a member? Log in here...
Accordion Inside Maturity (Past performance is no guarantee of future results.) Contact: Steven Miller smiller@covenantreview.com
Launched Volume Source: LevFin Insights New-issue Yields Source: LevFin Insights Weekly Fund Flows Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenbergrobert.polenberg@levfininsights.com
Rents, Lease Pass Throughs Support US Data Centers Amid Higher Costs Click here to learn more. Tariffs, geopolitical tensions, and federal policy changes are disrupting supply chains, increasing data center and utility capex and operating costs, according to Fitch Ratings in its new report U.S. Data Centers Resilient Amid Rising Costs…. Subscribe to Read MoreAlready
TTM Default Volume, Count (Past performance is no guarantee of future results.) Contact: Eric Rosenthaleric.rosenthal@kbra.com
Higher risk not always higher return Investors are mulling opportunities beyond direct lending but moving up the risk curve doesn’t guarantee better results. Direct lending dominated private debt fundraising last year – accounting for 65 percent of the total – prompting us to investigate in a recent Private Debt Investor cover story whether investors are…
A PitchBook survey showed private credit participants most worried about finding new deals. Source: PitchBook/LCD, data through Sept. 16, 2025
Beyond yield, advisors and direct contribution (DC) plans look to private credit for diversification and deployment. These goals are not unrelated. Quantity over quality, particularly at the higher end of the middle market or the large cap space, can result in chunky portfolio positions. These can add significantly to risk. A default or loss in…