2018: Almost a record Download PitchBook’s Report here. Thanks to a massive Q4 to close out the year, 2018 came close to setting a new record for combined deal value. About $277 billion was invested in Q4, versus a relatively paltry $198 billion invested in Q3 2018. Fourth quarters typically see the highest numbers in any…
Direct Lending Fundraising Dips in 2018 Total private debt fundraising fell in 2018, with 162 funds securing an aggregate $110bn throughout the year. In comparison, in 2017, 186 private debt funds held a final close and raised $129bn. Although direct lending continued to represent the largest bulk of fundraising activity, direct lending fundraising dipped steeply…
The mightier they are, the harder they fall Private debt hit a fundraising peak in 2017, which has proved impossible to sustain. It was the year when private debt came of age as an asset class, shattering the previous global aggregate fundraising total as GPs raked in a combined $211 billion according to PDI figures….
Discounts widen as volatility hits the primary loan market Loan market sentiment has shifted dramatically this quarter as broader market volatility sent waves into the leveraged loan market. Concerns about global growth, trade wars, Brexit worries, and uncertainty over future interest rate hikes have cast a shadow on confidence and investors are a lot more…
Why private credit firms and their LPs should make ESG a priority Environmental, social and governance policies provide another avenue of differentiation when all debt managers claim to have proprietary dealflow and the best downside protection…. Login to Read More...
Are We on the Precipice of a Private Debt Crash? Private debt funds can act like a bank, providing loans to businesses are that are too small to go on the bond market, but which are also too big to solely rely on loans from their local credit union. This important financial model has led…
What do LPs want? Download PitchBook’s Report here. Do they know you, and how much do you cost? Those are the two most important factors for LPs considering GP commitments, according to our new Institutional Investors Survey. We reached out to more than 50 global LPs for the study, which came back with some surprising results….
Loan bids continue to decline amidst broader market volatility LPC’s most liquid 100 loans cohort traded down again yesterday to 96.15, its lowest level since March 2016. The volatility in the broader market has bled into the syndicated loans market. Loan investors have reacted by yanking roughly US$5.6bn from retail loan funds since the last…
Today’s deal structuring affects private debt’s future Cov-lite, cov-wide or cov-regular, credit managers are making the bed they’ll have to lie in. The private debt deal market is red hot: there is cash aplenty, more lenders than there are deals, egregious EBITDA addbacks – and investors are taking note…. Login to Read More...
Private Debt Industry in Europe Reaches $200bn in Assets Europe has been a key area of interest for investors in private debt in the past year. Of the private debt investors surveyed by Preqin in June 2018, 47% view Europe as presenting the best opportunities – the largest proportion of any region. Additionally, the number…