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,” […]
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…
Average Adjustments for EBITDA Reconciliation, M&A-Driven Loan Deals Contact: Steven Miller
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...
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…
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…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
