Leverage for healthcare and tech issuers was off 1Q for club deals, while rising for service firms and manufacturers.

The number of private equity software deals is growing relative to the non-software IT segment.

Loans involving new financings, not just repricings, represented 72% of all 1Q middle market sponsored transactions.

While middle market yields are range-bound, large cap spreads have been dropping fast.

So far this year fundraising for middle market firms is matching the pace we saw in 2016.

Dropping oil prices and last week’s Fed rate hike caused investors to push almost $5.7 billion out of high-yield accounts; totaling $8 billion in only three weeks.

The lower on the capital stack an debt investor’s position goes, the more challenged is the recovery.

Last year’s downturn-related worries caused bond price and yield swings, while private credit remained relatively insulated from market moves.

The attractiveness of the middle-market loan asset class is highlighted by its consistent premium over traditional high yield bonds.

According to Preqin, low interest rates is top factor affecting credit portfolios, with central banks and the US economy next.