More nuance around first-time funds Download PitchBook’s Report here. Past PitchBook research has found statistical outperformance for first-time PE funds compared to follow-on funds. That note was one among many studies that arrived at the same conclusion: first-time funds tend to do relatively well, for a variety of reasons. PitchBook just released a follow-on note (so…
Source: LevFin Insights Source: LevFin Insights Source: Lipper (Past performance is no guarantee of future results.) Contact: Robert Polenberg robert.polenberg@levfininsights.com
Fund Manager Views on Where They are in the ESG-Implementation Lifecycle Private Debt fund managers are lagging on ESG implementation compared with other asset classes. From a survey conducted by Preqin to fund managers, only 11% of private debt fund managers are at the mature stage of the ESG implementation lifecycle, compared with 27% of…
We wrap our special series with an outlook for private credit. The value proposition of the asset class was fully supported through last year’s extreme volatility as experienced managers and their portfolios emerged mostly unscathed. But as market conditions develop this year, how will private credit terms be impacted? BSL technicals, such as fund flows,…
Recently compressed loan spreads leading to more BSL repricings; middle market is lagging.
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…
Contact: Marina Lukatskymarina.lukatsky@spglobal.com