PE nowcast versus reported return Download PitchBook’s Report here. The PE Barometer remains in neutral territory with a score of 57, producing a nowcast of 3.9% and a desmoothed nowcast of 4.8% for Q3 2025…. Subscribe to Read MoreAlready a member? Log in here...
M&A Gains Momentum Amid October Slowdown in Leveraged Loan Market Click here to access Bloomberg’s US Leveraged Finance Chartbook October saw a notable decline in US institutional leveraged loan activity, with 72 deals totaling $62.7b marking a 32.7% decrease from September’s $93.2b, and the slowest monthly volume since May ($31.6b). This brings year-to-date issuance to…
U.S. Business Development Companies Outlook 2026 Click here to download report. Fitch Ratings has a ‘deteriorating’ sector outlook for U.S. business development companies (BDCs) in 2026, due to pressure on earnings and dividend coverage from declining interest rates and elevated payment-in-kind (PIK) income…. Subscribe to Read MoreAlready a member? Log in here...
US repricings slow in early 3Q25 as new loan assets re-emerge US leveraged lenders completed just under US$18bn of repriced institutional loan volume during the month of October, down from over US$23bn in September and less than half of August totals (US$43bn) and one fifth of July results (US$94.2bn)…. Subscribe to Read MoreAlready a member?
An investor vote of confidence Amid some mixed headlines, private markets appear to be as popular as ever with those who provide them with their capital. In last week’s column, we reflected on some of the outcomes from our latest LP Perspectives study. Continuing our examination of some of the key findings this week reveals…
US Leveraged Loans Return 4.5% Through October Click here to access Bloomberg’s latest Global Leveraged Loan Index Report The Bloomberg US Leveraged Loan Index (Ticker: LOAN) returned 0.11% in October, bringing its year-to-date return to 4.50%. Average secondary market prices on US leveraged loans were 96.75 on October 31st, down from a monthly high of…
U.S. Private Credit and Middle Market Performance Monitor: 3Q25 Click here to learn more. Fitch’s Privately Monitored Ratings Portfolio Overview, 3Q25 In the charts above, Fitch presents aggregate data for issuers in its PMR portfolio. Fitch privately rates these issuers on behalf of asset managers…. Subscribe to Read MoreAlready a member? Log in here...
Median step-up from previous PE middle-market fund in fund family Download PitchBook’s Report here. With less capital available to allocate, many LPs are consolidating the number of managers they commit capital to, often siding with managers they have longer-standing relationships with, which tends to be larger megafund managers or a select few in the middle market….
US Institutional loan calendar north of US$43bn at end of October At the end of last week, the forward calendar for institutional loan assets topped US$43bn, the highest level since July of this year…. Subscribe to Read MoreAlready a member? Log in here...
Performance and regulation are worries for LPs Our latest test of investor opinion finds tougher market conditions impacting the responses. In this column we offer readers of the Lead Left a sneaky peek at some of the findings emerging from the latest version of our LP Perspectives annual survey, which will form part of the…