The name George Laurer may not be familiar to our readers. But his invention certainly is. Mr. Laurer, who passed away two weeks ago at the age of 94, created the bar code. The UPC is now a universal feature of consumer products, but prior to its adoption in 1974, cashiers had to manually input…
Purchase price multiples for all leveraged buyouts have steadily risen since the Great Recession.
US secondary loan bids get a boost from improved single-B sentiment Average bids in the US secondary loan market have been on the upswing of late. The LPC 100, Refinitiv LPC’s cohort of the 100 largest and most liquid loans, closed Monday bid at 98.02, its highest level since August 2. The LPC 100 was…
Middle market firms rarely target the public market Download PitchBook’s Report here. Middle market investors aren’t known for prolific take-private activity, but the percentages are surprisingly low. For the past two years, middle-market take-privates have accounted for less than 2% of all middle market activity. 2% is pretty skimpy. Dating back to 2014, MM buyouts have…
Direct Lending: Add-ons maintain share over buyouts in November Add-on acquisitions continued to drive financings over buyouts in November, accounting for half the tally, compared to 42% for LBOs, according to Direct Lending Deals. Other proceeds, which include growth financing, accounted for 8% of volume, according to DLD. … Subscribe to Read MoreAlready a member? Log in here...
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks Contact: Steven Miller
Europe-Focused Private Debt Fundraising Hits Record High Private debt fundraising has been slowing down globally since 2017 – so far this year the asset class has raised $92.7bn, the lowest fundraising figure seen since 2014. Normally, a big proportion of private debt trends are attributed to the most developed markets of North America and Europe,…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
LPs expecting lower private debt returns in 2020 The asset class has experienced intense competition over the years, and that might be starting to show up in LPs’ return expectations. Investors broadly expect to enjoy solid private debt returns next year, with 78 percent anticipating returns at or above their benchmarks, according to our annual…