Healthcare investment outpaces overall PE market PE activity in the healthcare space has outpaced the broader PE market since 2009. A new PitchBook analyst note, to be released tomorrow morning, chronicles the trend: tailwinds include an aging population, an uptick in global per capita healthcare spending, strong growth rates and attractive margin profiles, and a…
Libor floors remain in institutional market, but are shifting lower One of the many effects brought by the pandemic was the precipitous drop in Libor rates, which had already been in a steady decline for a while. The average 3-month Libor rate dropped almost 100bp to an average of 0.58% in 2Q20 and is at…
Private Debt-Backed Deals in Europe Despite the impact COVID-19 has had in deal activity, the European private debt-backed deal value has soared in 2020. A total of 79 deals were completed in H1 2020 (vs. 197 in 2019), for an aggregate value of €8.7bn…. Subscribe to Read MoreAlready a member? Log in here...
NPLs: Covid-19 creates new round of buying prospects The coronavirus crisis may not be as bountiful for Europe’s NPL investors as the GFC, but will offer select opportunities. Every crisis has its winners and losers and one asset class which came out on top after the global financial crisis in 2008 was European non-performing loans…
Middle market non-sponsored sydicated loan volume drops dramatically Middle market completed non-sponsored syndicated loan volume of US$7bn so far in 3Q20 is far behind the US$22bn logged in 3Q19 and is down from an already slow 2Q20. As the economy shut down due to the pandemic, activity in the non-sponsored market was very limited in…
August amped up deal flow in lower middle market; Busy season ahead Lower middle market deal flow amped up in August, with volume exceeding July as lending found its footing amid calmer secondary prices and outflows. Quarter-to-date volume overtook 2Q weeks ago. Final numbers will be available in our upcoming Quarterly Report…. Subscribe to Read
PE middle market update Download PitchBook’s Report here. PitchBook’s Q2 US PE Middle Market Report releases today – download your copy here – and the headline numbers largely mirror the broader PE market. Deal volume cratered in Q2, as expected, falling from an estimated 789 deals in Q1 to 504 in Q2, a 36% drop. Combined…
Europe-Focused Private Debt Fundraising Private debt fundraising in Europe has continued to grow at a good pace over 2020 and amid the COVID-19 outbreak, it was relatively strong over the first half of 2020. In H1 2020, the 30 funds closed secured an aggregate $23.5bn in commitments – just under half the amount raised over…
Infrastructure debt’s strong foundations It’s an investment option that’s become big in Japan, but strong competition for deals casts a cloud. Infrastructure debt continues to attract interest from long-term investors. As can be seen from the chart above, fundraising reached a five-year peak in 2019 and was also strong at the beginning of this year…
Will distressed deals see an early comeback? One big, near-term question for private equity will be around distressed companies. Rescues have been made already, while other deals have been done to provide liquidity and strengthen balance sheets. Below the radar, deals have been made with hair salon chains, collegiate study abroad programs and summer sports…