Investors are asking, what is the “new normal” for businesses? Unfortunately, as a recent Accenture study notes, “normal isn’t available to us anymore.” In the absence of normality, sponsors and lenders are adapting. “We historically focused on six sectors,” one PE partner told us. “COVID swept two away, leaving four. We’re still getting books on […]
Midyear grading Download PitchBook’s Report here. Late last year we released our Private Equity Outlook, which boiled down to seven predictions for the year ahead. The maelstrom of 2020 has laid waste to many market predictions, including some of ours, but one is worth mentioning midway through the year…. Subscribe to Read MoreAlready a member? Log
Financing companies in a COVID environment is as challenging as buying and selling them. Top M&A bankers gave us their list of do’s and don’ts. “There are a lot of twists and turns today,” a mid-West MD told us. “You may think the company you’re trying to sell is operating at pre-COVID levels, but what […]
BDC portfolio non-accrual rates hit 5.53% so far in 2Q20 Digging into portfolio performance remains the top priority for BDC research analysts on BDC earnings calls this week. Even though most BDCs are showing a rebound in asset values, its mostly being driven by a spread tightening envionment with credit performance still an issue. After…
Special Situation Funds are on the Raise The private debt industry had a very slow start of the year, but in Q2 2020, fundraising peaked, being distressed debt and special situations the catalyst for this bounce-back. Special situations fundraising has had peaks and troughs over the last ten years, reaching the highest amount of capital…
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA (M&A-Related) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
