Leveraged loans claw back tariff-driven losses in secondary market It has been a wild ride in the secondary market this year to date, driven by bouts of volatility due to uncertainty over US economic policy. Secondary market bids on US leveraged loans started the year at an average of 97.33 before sliding 329 bps from…
US$1.4bn of BDC loans were added to non-accrual status in 1Q25 A total of US$1.4bn of BDC loans were added to non-accrual status in 1Q25, up from roughly US$1.2bn in the prior quarter…. Subscribe to Read MoreAlready a member? Log in here...
PE AUM ($T) forecast* Download PitchBook’s Report here. Within PE subcategories, we expect buyout funds to continue to garner the bulk of fundraising in the coming years, but growth funds have seen increasing LP interest and offer an alternative to the VC asset class…. Subscribe to Read MoreAlready a member? Log in here...
Fitch’s Privately Monitored Middle Market Portfolio Overview, 1Q25 Click here to learn more. As audits for privately monitored rating (PMR) issuers continue to roll in, Fitch forecasts revenue growth of 5.7% for 2024. Revenue growth for 2025 is likely to be pressured by rising U.S. tariffs and retaliatory measures. … Subscribe to Read MoreAlready a member?
Can the asset class again prove its resilience? Delegates at the recent Europe Summit heard views on how different parts of the market will weather the challenges. Our recent Private Debt Investor Europe Summit drew LPs, GPs and advisers from all corners of the globe, keen to discuss a rapidly changing environment and what they…
Fitch’s Privately Monitored Middle Market Portfolio Overview, 1Q25 Click here to learn more. In the charts above, Fitch presents aggregate data for issuers in its privately monitored rating (PMR) portfolio. Fitch privately rates these issuers on behalf of asset managers…. Subscribe to Read MoreAlready a member? Log in here...
Proportion of US loans trading north of par edges up modestly following headline volatility In the wake of headline making talk of tariffs – and implicitly fears of a trade war – in April US loan investors pulled back in the secondary causing average bids to come off highs before showing signs of a modest…
Global private debt dry powder ($B) Download PitchBook’s Report here. Halfway through 2024, private debt dry powder sat at $566.8 billion—a new high—and is on track for its second consecutive year of growth…. Subscribe to Read MoreAlready a member? Log in here...
US Leveraged Loans Post Consecutive Monthly Losses Click here to access Bloomberg’s US Leveraged Loan Index Report The Bloomberg US Leveraged Loan Index (Ticker: LOAN), a measure of the US institutional, broadly syndicated, leveraged loan market, continued its downward trend in April…. Subscribe to Read MoreAlready a member? Log in here...
Slower Growth and Competitive Underwriting to Pressure Asset Quality for U.S. BDCs Click here to learn more. U.S. business development companies (BDCs) are facing mounting pressure in 2025 as escalating trade tensions and broader economic uncertainty compound existing credit headwinds…. Subscribe to Read MoreAlready a member? Log in here...