What Are Private Debt Investors Up to? A significant majority (60%) of investor searches issued in Q3 2018 for new private debt fund commitments in the next 12 months were for mezzanine funds, up from 45% of searches in Q3 2017. In fact, there has been an uptick in interest across all strategies, an indication…
Turning a blind eye? In Europe, talk of battening down the hatches for a change in circumstances seems at odds with a lack of appetite for European distressed strategies. “The more you sweat in peacetime, the less you bleed during war.” Turnaround specialist Richard Thomson of RLT Advisory reached for this striking Chinese proverb when…
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 Lukatsky marina.lukatsky@spglobal.com
Mario Draghi, in a press conference confirming that market rate expectations were intact, stated that the risks to the eurozone’s economy are “broadly balanced”. His view may have merit, but there is little doubt that the situation is looking more precarious than a few weeks ago. If negative sentiment does permeate the market and spark…
Average Adjustments for EBITDA Reconciliation, M&A-Driven Loan Deals (% of PF Adjusted EBITDA) Contact: Steven Miller
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Barreling toward a record Download PitchBook’s Report here. US middle market PE activity is set to break records this year. Through Q3, more than 2,000 transactions have closed totaling $289 billion in investments. At that pace, 2018 is looking at more than 2,700 deals at more than $385 billion invested…. Login to Read More...