Will Net Cash Flows Decline for PE Fund Investors? Since 2010, there has been a markedly recurrent yearly increase in total distributions to investors in private equity funds. This increase, as well as relatively plateaued contributions, has produced a significantly positive net cash flow for global PE funds. Through the first half of 2015, net…
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As we wrap up our series on direct lending in Europe, let’s examine the supply/demand dynamic we expect to drive deal activity for providers and users of private debt. As our Chart of the Week shows, European funds have almost $30 billion in dry powder available to support loans. On the supply side, private equity…
This week we continue our conversation with Ron Kubick, Managing Partner and founder of Cadence Credit Partners, an independent capital markets advisory firm that provides middle market companies (public, private, and sponsor owned) with capital markets advisory expertise when companies seek financing from traditional or alternative credit providers. Second of two parts – View part one The…
European debt funds have $28.8 billion in dry powder dedicated to direct lending; private equity has almost five times that to put to work. Source: Preqin; European Dry Powder – Private Equity & Direct Lending (USD bn)
Contact: Timothy Stubbs timothy.stubbs@spcapitaliq.com
Investors embrace HY ETFs as sentiment turns High yield credit has enjoyed a sustained rally over the past five weeks and investors have taken advantage through ETFs. High yield bond ETFs have seen five consecutive weeks of positive inflows Markit iTraxx Europe Crossover index has seen its spread fall from 486bps to 332bps Oil &…
How much has been raised to support non-bank direct lending in Europe? Figures are often cited in the media without asking related questions such as “What are they raising?” or “What’s their strategy?” Preqin recently reported about €31 billion was raised last year for “private debt.” Of that roughly 60% was for direct lending, with…
The equity, bond, and loan markets have all rebounded from their February lows as investor sentiment has improved. Multi-quote institutional loan bids are now at 92.24, up from a low of 90.48. High yield bond prices have posted a relatively bigger bounce, jumping 6 points from their low in February to an average of 90….