TheLeadLeft

Leveraged Loan Insight & Analysis - 3/21/2016

Valeant Pharmaceuticals, the most widely held name in U.S. CLOs, announced last week it was cutting its revenue forecast and that a delay in filing its annual report put the company at risk of defaulting on its debt. In response, Valeant’s shares plunged by more than 50%. The company’s loans ended Tuesday with a weighted…

The Pulse of Private Equity - 3/21/2016

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…

Lead Left Interview - Ron Kubick (Part 2)

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…

Chart of the Week - Deployment Overseas

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)