Last week we discussed the increase in valuations seen over the last 12 to 18 months in the middle-middle market, one of the drivers that we cited was the increase in competition and amount of capital chasing these deals. Today’s PitchBook chart shows that U.S. PE funds targeting middle-market deals currently have $305 billion of…
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
This week we speak with Justin Kaplan, Partner, Balance Point Capital Partners, a lower-middle market investment firm with offices in Westport, CT and Hartford, CT. The Lead Left: Justin, many of us know you from your days at the Alcentra mezzanine fund, but tell us about what you’re doing at Balance Point. Justin Kaplan: I joined the…
Par for the Course Softness in market technicals has driven loan prices for new-issue leveraged loan paper below par for the first time in six months, perhaps signaling better times for investors. … Login to Read More...
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
Source: S&P Capital IQ Contact: Robert Polenberg robert.polenberg@spcapitaliq.com
At ACG Intergrowth last week I spent a fair amount of time talking with private equity deal guys (and one gal…another topic) about the current market. The clearest trend everyone could agree on, and one that nobody was particularly excited about, was the increase in company valuation multiples over the last 12 to 18 months….
Positive earnings, strong economic data, low default rates and – most importantly – a favourable monetary policy environment continue to place downward pressure on spreads. The Markit CDX.NA.IG was trading at 64bps in nearly May, which would be the tightest level this year if the roll effect in March is excluded…. Login to Read More...
CLO issuance remains strong thanks to a broadening and growing AAA investor base and a growing number of first time managers. So far this year, almost $41 billion of CLO paper has been issued,up from the $33 billion issued through at this time last year. Dealing with a softer secondary, the average bid on the…