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DL Deals: News & Analysis - 10/5/2020

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Third quarter finishes on high note; Lower middle market LBOs rally in Sept The second quarter’s heavy caution all but disappeared by last month in a swift reversal of deal flow. Uncertainty is onmnipresent, but investors have capital to deploy, financing has stabilized and after idling for six months, it’s risk on toward year end….

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Private Debt Intelligence - 10/5/2020

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Private Debt Fundraising Sinks in Q3 2020 So far in 2020, $68.9bn have been secured by 123 private debt funds closed. Compared to the same period over the last five years, these mark the second lowest fundraising figures. As we have seen in previous years, private debt fundraising figures in Q1 and Q3 are always…

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Private Credit – Better than Ever (Last of a Series)

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“If you liked private credit before, you’ll really like it now.” – Managing director of a private debt investment firm. As we wrap up our special series on the “new” private credit, let’s look at factors influencing both quantity and quality of deal flow next year. First, the economy. Recent employment numbers point to a…

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Debtwire Middle-Market – 10/5/2020

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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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