TheLeadLeft

The Pulse of Private Equity - 1/25/2016

Will Aging Portfolios Still Drive PE Exits in 2016? One of the primary storylines behind the private equity sellers’ market of the past few years has been the need for funds with aging holdings to liquidate as they threaten to drag down overall returns. As PitchBook data illustrates, as of the end of 2015, close…

Leveraged Loan Insight & Analysis - 1/25/2016

Libor floors, used to guarantee a minimum spread to investors in a low rate environment are now a major theme in the market given rising interest rates. In 2015, 98% of institutional term loans were issued with a Libor floor, the bulk of which were done… Login to Read More...

Markit Recap – 1/18/2016

The economies of Italy and China don’t appear to have much in common. Italy’s government would welcome a GDP growth rate of 1%, while China expands less than 7% and investors take flight. One is a sclerotic, decaying Western country, the other is a dynamic Asian tiger. Such is the conventional wisdom. But look beyond…

Lead Left Interview - Adrian Docherty (Part 2)

This week we continue our conversation with Adrian Docherty, who heads up BNP Paribas’ Bank Advisory team. His team helps banks who are customers and counterparties of BNP Paribas to improve their management of risk, capital, funding, liquidity and profitability. He is also the author of Better Banking: Understanding and Addressing the Failures in Risk…

Chart of the Week - Down Shift

Leverage declined modestly, though almost two thirds of 4Q deals were 6x total leverage or higher. US Middle Market Leverage Multiples on Institutional Deals Source: Thomson Reuters LPC