Are dry powder levels a concern? Download PitchBook’s Report here. PE capital overhang levels reached $800 billion last year between North America and Europe. For perspective, the buyout boom overhang peaked in 2008 at $599 billion. The cumulative weight of today’s dry powder isn’t the only difference between eras, however…. Login to Read More...
Average Unadjusted Leverage for M&A-Driven Loan Deals (First Lien vs. Total) Contact: Steven Miller
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
The Goldilocks of capital deployment Despite heated discussion around perceived recklessness, most LPs are satisfied with how GPs have managed their capital. Much has been made of the large number of covenant-lite loans, cases of egregious EBITDA addbacks and other such exuberant late-cycle activity…. Login to Read More...
Valentine’s Day traditionally celebrates the marvels and mysteries of love. As a study of the latter, a travel site ran an article last week about a couple separating after almost a century together. Born in 1897, Bibi and Poldi had been in a committed relationship since the 1920’s. However, for reasons that have escaped their…
The premium between large cap and the middle market has shrunk to 50 bps, the tightest in a decade.
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Contact: Marina Lukatsky marina.lukatsky@spglobal.com
An Insight into Private Debt Returns Private debt has flourished in recent years: the asset class has raised over $100bn each year for the past four years and assets under management has reached a record $769bn as at the end of June – the latest data available. And while almost a third (32%) of investors…