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PDI Picks – 3/15/2021

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The new normal is the old normal After a brief period of change, deals are starting to look very similar to how they did pre-covid. “It’s amazing how quickly the snap-back has happened,” said Richard Olson, a London-based managing director at investment bank Lincoln International, reflecting on how private debt deal terms have quickly reverted…

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The Pulse of Private Equity – 3/8/2021

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Introducing PitchBook’s Capital Call at Risk metric PitchBook is rolling out a new framework for our LP clients to prepare them for worst-case capital call scenarios. We’re calling it the Capital Call at Risk (CCaR) metric, which is based on the Value at Risk (VaR) framework popularized by JP Morgan in the 1980s…. Subscribe to

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The Great Reception: Private Credit Outlook

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We wrap our special 2021 outlook with private credit. Its value proposition was fully supported last year, coming through the pandemic mostly unscathed. But with conditions becoming more issuer-friendly, how will private credit terms be impacted? When liquid loan yields contract, illiquid loan yields tend to follow. But they carry at least a 100 bp […]

Leveraged Loan Insight & Analysis - 3/8/2021

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US CLO portfolio trading activity mirrors strong secondary Of the US$261bn in trading activity by US CLO managers in 2020, asset selling peaked at 41% of activity in the second quarter, at the height of the pandemic. Selling slowed to only 36% of US CLO managers’ trading activity by year-end, with purchases climbing to 64%…. Subscribe

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