“There is no passive option in direct lending.” So begins “Selecting Direct Lending Managers,” Chapter 13 in Steve Nesbitt’s Private Debt: Opportunities in Corporate Direct Lending. This asset class is indeed available only through active management. As we’ve discussed in this series, the Cliffwater Direct Lending Index (CDLI) is an excellent proxy for middle market…
An energy boost for infrastructure debt The strategy has plenty of supporters in the investor community, as the latest PDI fundraising figures demonstrate. Private debt fundraising is going strong – but, proportionally, infrastructure debt fundraising is going even stronger. In our recently released global fundraising figures for the first half of this year, PDI revealed…
Private markets grow in size, importance Private market strategies are growing and will continue to grow for the foreseeable future. PitchBook heard from 101 institutional limited partners as part of a new survey report (Private Markets: A Decade of Growth) to see where LPs are allocating their money in the near-term. Two-thirds said they’d be…
Private Debt Funds in Market in Q2 2019 Through Q2 2019, new private debt funds have continued to come to market, and there are now a record 420 vehicles on the road. Having spiked to $192bn at the start of the quarter, though, the total capital sought in the asset class has fallen back to…
To select a private debt manager, investors must perform due diligence on a variety of factors.
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
2Q19 non-sponsored lending jumped to its highest quarterly level in a year After a very slow start to the year, non-sponsored lending soared in 2Q19. At US$26bn, non-sponsored syndicated loan volume was up 81% from 1Q19, but was still down 15% year-over-year. The quarter-over-quarter increase in lending was driven by a big surge in refinancings…