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The Pulse of Private Equity – 10/18/2021

The exit bonanza continues Download PitchBook’s Report here. Through Q3, PE exit activity is well into record territory, according to PitchBook’s latest US PE Breakdown. We’re estimating $638.3 billion in exited capital so far, including a blockbuster $283.7 billion exited in the third quarter alone. That’s a record by a wide margin, eclipsing the old record

Private Debt Intelligence - 10/18/2021

North America and Europe see number of fund closes rise A total of 22 North America-focused private debt funds closed in Q3 2021, a 47% increase on the 15 funds that closed during the same period in 2020. Although this is a substantial increase, it is much less than for Europe-focused funds, where there were

PDI Picks – 10/18/2021

Fundraising puts the pandemic in the rear mirror The year as a whole looks set to move comfortably past the total raised in 2020. Private debt fundraising had a tough time of it last year, fighting its way through the challenges of covid-19 and the enforced remote due diligence that it brought in its wake,

Leveraged Loan Insight & Analysis - 10/11/2021

Middle market non-sponsored syndicated M&A jumped to US$4.4bn in 3Q21 The non-sponsored middle market added another strong quarter to the books. While issuance was slightly down from 2Q21, it was a very busy summer with total volume of US$30.3bn in 3Q21. This was the highest level for a third quarter since 2014.  Moreover, new money

The Pulse of Private Equity – 10/11/2021

Q3 was another blockbuster Download PitchBook’s Report here. No rest for the weary: PitchBook’s latest US PE Breakdown is out, and the third quarter set another new record. An estimated $297 billion was invested in Q3 across an estimated 2,227 deals. Both would be new records, as data continues to be tabulated. The value mark, $297

Private Debt Intelligence - 10/11/2021

PD sees high levels of Q3 fundraising Although fundraising in Q3 is traditionally quiet, this past quarter has seen significantly higher fundraising than over the same period in previous years. Aggregate capital raised totalled $40.5bn in Q3 2021, compared to $14.3bn in the same quarter in 2020 and $28bn in 2019....

PDI Picks – 10/11/2021

Is distressed debt an old-fashioned notion? Traditional cycles may be a thing of the past – what matters is having the skills to take advantage of challenging situations. To say there’s no such thing as distressed debt any more perhaps suggests the kind of over-optimism associated with the claim that first emerged in the dotcom

Private Debt Intelligence - 10/4/2021

Dry Powder for Direct Lending Senior Debt at Record High Almost 60% of dry powder in direct lending is allocated to senior debt, with $103.9bn available for investment worldwide as of October 2021. The majority of this, $73.8bn, is with North America-based fund managers, with European fund managers coming in second with $22.5bn....

Leveraged Loan Insight & Analysis - 10/4/2021

1-3Q21 leveraged issuance sets new record at US$1.3Tr U.S. bank arrangers completed over US$250bn of leveraged loan issuance during the quarter, the strongest 3Q results since 2017 as liquidity and a resurgence of sponsor activity buoyed the market. At almost US$935bn, leveraged loan issuance for the first nine months of the year was just shy

The Pulse of Private Equity – 10/4/2021

PE’s growth compared to the public market Download PitchBook’s Report here. As an asset class, private equity’s growth has exploded over the past two decades. According to PitchBook’s latest Quantitative Perspectives Report, there are now twice as many PE-backed companies as there are public companies in the United States. Those numbers, aided by figures from the