Discounts widen as volatility hits the primary loan market Loan market sentiment has shifted dramatically this quarter as broader market volatility sent waves into the leveraged loan market. Concerns about global growth, trade wars, Brexit worries, and uncertainty over future interest rate hikes have cast a shadow on confidence and investors are a lot more…
Source: LevFin Insights Source: LevFin Insights Source: Lipper Contact: Robert Polenberg robert.polenberg@levfininsights.com
“US credit markets are grinding to a halt.” So warned the front page of Monday’s Financial Times. Followers of this column will recognize the ensuing list of culprits – money pouring out of loan funds, falling secondary loan prices and resultant choppiness in the primary market, and stalled high-yield bond issuance. Credit markets may be…
Why private credit firms and their LPs should make ESG a priority Environmental, social and governance policies provide another avenue of differentiation when all debt managers claim to have proprietary dealflow and the best downside protection…. Subscribe to Read MoreAlready a member? Log in here...
During the worst of the credit crisis the lower volatility of middle market loans is evident, compared to bonds or liquid loans.
Average Adjustments for EBITDA Reconciliation, M&A-Driven Loan Deals Contact: Steven Miller
Dramatic shift in secondary loan market price distribution Source: Markit, Debtwire Par The secondary loan market has come under pressure in recent weeks amid increased financial market volatility, a jump in risk aversion and a sell-off in loan mutual funds & ETFs (aka retail funds). Outflows from retail funds in the most recent week was…
Are We on the Precipice of a Private Debt Crash? Private debt funds can act like a bank, providing loans to businesses are that are too small to go on the bond market, but which are also too big to solely rely on loans from their local credit union. This important financial model has led…
What do LPs want? Download PitchBook’s Report here. Do they know you, and how much do you cost? Those are the two most important factors for LPs considering GP commitments, according to our new Institutional Investors Survey. We reached out to more than 50 global LPs for the study, which came back with some surprising results….
Contact: Marina Lukatsky marina.lukatsky@spglobal.com