Special Report: Why Valuations Matter
Beginning in April 2019 The Lead Left published a series of articles on valuations. This report consolidates those articles.
TheLeadLeft
Chart of the Week: Freer and Clearer
The share of loans with free and clear grower components climbed to a record high in the three months through May 2019.
Private Debt Intelligence – 6/10/2019
Subscription Credit: Angel or Demon? Private capital funds are using subscription credit facilities – bridge loans made to fund deals in lieu of making capital calls – more than ever. Usage has jumped from 13% in pre-2010 vintages to over 50% of 2015 and 2016 vintage vehicles. But the industry remains divided as to whether…
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Covenant Trends – 6/10/2019
Average Minimum Day-One Capped Basket Capacity, Quarterly Contact: Steven Miller
PDI Picks – 6/10/2019
Private credit’s downturn performance will predict its growth in Asia – and the world Alternative asset managers expect Asia, save China and the Middle East, to be the strongest growth area for their investor base in the coming years. The growth of alternative asset investments coming from Asia has been real, and managers believe it…
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LevFin Insights: High-Yield Bond Statistics – 6/10/2019
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
Debtwire Middle-Market – 6/10/2019
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…
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Loan Stats at a Glance – 6/10/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
The Pulse of Private Equity – 6/3/2019
PE alpha isn’t what it used to be Download PitchBook’s Report here. We tend to think of PE’s halcyon days as 2005-07, the dealmaking and fundraising bonanza years right before the music stopped. Industry players who have been around long enough probably remember better times and slightly better numbers. The industry is certainly much bigger and…
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Leveraged Loan Insight & Analysis – 6/3/2019
What is the biggest challenge in the CLO market today? When asked to write in what they believe is the biggest issue or challenge facing the CLO market today, many respondents noted persistently high liabilities spreads. Only nine percent of CLO arrangers, managers and investors across the stack surveyed by LPC expect that triple-A spreads…
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