February Loan Issuance Slows Sharply Amid Market Uncertainty Click here to access Bloomberg’s US Leveraged Finance Chartbook Through February 25, just $22.85b of US institutional leveraged loans have priced, with an additional $9.54b expected to allocate before month-end. Even if all scheduled deals price, total issuance will fall well short of January’s $164.1b, marking a…
Perpetually Non-Traded US BDCs See Higher Redemptions, Slower Fundraising Click here to learn more. Investor sentiment has turned negative toward publicly listed U.S. business development companies (BDCs) with private-credit and software exposure, lowering valuations and limiting equity market access. That shift is now spilling over to perpetually non-traded BDCs, which have seen higher redemptions and…
Americas Private Credit 2026 Outlook: The Year of Maturity: Private Credit Goes Mainstream as 2021 Loans Come Due This Year Click here to read the full article. Although it is too soon to call 2026 the M&A rebound year the market has been patiently awaiting, positive trends from late 2025 are carrying over into the…
Healthcare PE deal activity Download PitchBook’s Report here. Healthcare devices & supplies was the primary driver of value growth, posting an annual increase of more than 270% YoY, supported by Hologic’s $18.3 billion leveraged buyout announced in Q4…. Subscribe to Read MoreAlready a member? Log in here...
Software loans continue to come under pressure as investors reasses exposure to the sector Fears that AI could disrupt software companies have prompted a broad sell-off in that sector this year and the downward trend continued in the last week…. Subscribe to Read MoreAlready a member? Log in here...
Volatility equals high return dispersion Private Debt Investor’s quarterly performance data shows spikes in internal rates of return – both in an upward and downward direction – in periods of turbulence. Over the last two weeks, this column has reflected on findings from our new proprietary quarterly performance reports. This week, we explore the topic…
Primary Market Activity Cools Following Active January Click here to access Bloomberg’s US Leveraged Finance Chartbook After a robust start to the year that saw $168.2b in US leveraged loan launches during January, primary market activity has slowed considerably. Through Wednesday, February 18, just $25.9b of new deals have launched – marking the lowest level…
Technology PE deal activity Download PitchBook’s Report here. Technology PE deal activity experienced an outsized year, with deal value higher by 67.4% YoY even though deal count rose by a relatively more modest 13.4%…. Subscribe to Read MoreAlready a member? Log in here...
Issuers in the Information Technology (23%) and Consumer Discretionary (22%) Sectors Topped BDC Non-Accruals as of Q3’25 Click here to request access to the full report. Business development companies, like much of the market, have been focusing on their exposure to software…. Subscribe to Read MoreAlready a member? Log in here...
U.S. Private Credit and Middle Market Performance Monitor: 4Q25 Click here to learn more. Fitch’s Privately Monitored Ratings (PMR) Portfolio – 4Q25 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...