TheLeadLeft

Leveraged Loan Insight & Analysis - 7/18/2016

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The spectacular turnaround in sentiment in the leveraged market resulted in a 137% jump in refinancing activity in the second quarter, reaching US$112bn, up from US$47bn in the first quarter and the highest since 2Q15’s US$165bn. With cash build-up from repayments, investors who had been sitting on the sidelines in the early part of the…

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Lead Left Interview - Eric Lloyd

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This week we chat with Eric Lloyd, the head of Global Private Finance for Babson Capital Management. Babson is one of the world’s leading asset management firms with investment teams on four continents managing over $243 billion in assets for clients in more than 20 countries around the world. The Lead Left:  Eric, give us…

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Markets at the Midpoint (Second of a Series)

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Luis Polonia, the former outfielder for nine major league baseball teams in the 1990’s, once observed of the late Yankees owner, George Steinbrenner: “He’s only interested in one thing. And I don’t know what that one thing is.” We recalled Mr. Polonia’s pronouncement last week as we surveyed lenders on the state of the middle…

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Chart of the Week: Recap Evap

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Thanks to continued concern about market volatility, dividend recap activity in the middle market has slowed to a crawl in the second quarter. Source: Thomson Reuters LPC

The Pulse of Private Equity - 7/18/2016

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US PE sellers slowly reducing inventory of aging portfolio companies After climbing steadily for several years, the median hold period in the US by private equity firms roughly leveled off between 2013 and 2014. From there, the hold period for companies exited via IPO briefly leapt upward in 2015, only to plunge once more in…

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Preqin Private Debt Intelligence - 7/18/2016

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Private Debt sees Imbalanced Fundraising Landscape As of the start of Q3 2016, there were 247 private debt funds in market, targeting an aggregate $141bn in capital commitments. However, the landscape currently shows an imbalanced ratio in terms of the debt types which have the most funds on the road, compared to the corresponding proportion…

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