Last week we kicked off our special series examining the differences between lending to middle market companies and those backed by private equity sponsors [link]. We discussed how these companies often are founded by visionaries with great creativity, but lack the management skills to execute the business plan to its full potential. Let’s turn to…
Loan volume for both sponsored and non-sponsored middle market transactions have generally slumped since 2014. Source: Thomson Reuters LPC
This week we continue our conversation with Ted Koenig, president and CEO, Monroe Capital. Monroe is and has been a leading provider of senior and junior debt to middle market companies in the U.S. for the last 14 years. Second of two parts – View part one The Lead Left: Monroe has two different businesses, correct?…
Recent consumer-focused PE vintages have a ways to go Consumer spending has been on the rise, but private equity managers of youthful consumer-focused funds still have a ways to go when it comes to either increasing overall value or realizing gains. The median fund of the 2010 vintage, for example, has a total-value-to-paid-in (TVPI) multiple…
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Credit risk has awakened from its summer slumber over the last couple of days with the CDX IG and iTraxx main now trading 8 and 11% higher than their close on Thursday. While it’s still too early to see whether this latest surge is a passing event or a longer lasting trend both indices are…
Our discussion last week of the Fed’s confusing position on interest rates drew a number of favorable comments. “This is precisely right,” one reader wrote us. “They should just go ahead and raise rates. The more they delay, the tougher it’ll get.” But our reference to the economy as a “Goldilocks environment” left at least…
While last month’s loan volume seemed exceptionally slow, it was actually better than 2015’s level, and consistent with the past five years. Source: Thomson Reuters LPC
Nearly half of U.S. CLOs see weighted average bids on underlying assets climb to 97 or higher The upward trend seen in secondary loan bids is mirrored when tracking all the assets held by CLOs in LPC’s Collateral database. Through mid-February, bids on loans held by CLOS had been grinding down in line with other…
This week we chat with Ted Koenig, president and CEO, Monroe Capital. Monroe is and has been a leading provider of senior and junior debt to middle market companies in the U.S. for the last 14 years. The Lead Left: Ted, it’s been a while since you’ve done an interview with us. What’s going on…