Private equity heads west New York is the epicenter of private equity, as it has been since its beginning. Wall Street was already around when PE got its start, and the important supporting actors—namely lenders and bankers—were all a taxi ride away.The same is true for Silicon Valley and the venture industry,… Subscribe to Read
Investor Satisfaction Dims in 2019 Private debt investors remain committed to the asset class, and their overall perception of the industry is positive. But Preqin’s latest surveys find that investor satisfaction has dimmed slightly at the end of 2018, as institutions foresee challenges for the industry in the months ahead…. Subscribe to Read MoreAlready a
Economics undergraduates know that credibility is vital for monetary policy. But this fact is seemingly elusive for Turkey and their President Tayyip Erdogan. The sovereign is in the midst of yet another crisis,… Subscribe to Read MoreAlready a member? Log in here...
Take-privates are cheap sometimes That’s according to Bain & Company, which made a salient point: “Despite the run-up in equity prices, public investors often undervalue companies they don’t understand.” That’s true, and the point is emphasized as public and private equity market multiples continue to converge…. Subscribe to Read MoreAlready a member? Log in here...
Primary yields widen to highest levels since 4Q11 1Q19 yields on first-lien institutional term loans are at their highest level in over eight years. At 7.66%, the average yield assuming a three-year term to repayment on first-lien institutional term loans is 94bp above 4Q18’s already high level…. Subscribe to Read MoreAlready a member? Log in
Women in Private Debt It is well-known that the representation of women in the alternative assets industry is relatively low, but the latest research from Preqin shows that women represent just 19.1% of employees in the private debt industry in 2019…. Subscribe to Read MoreAlready a member? Log in here...
Distressed debt managers get a distressing signal Fundraising soared in 2017, but it came crashing back to earth last year, and it may not change this year. Despite all the talk of the credit cycle turning, distressed debt fundraising dollars and investors’ portfolio plans aren’t jiving with the hullabaloo…. Subscribe to Read MoreAlready a member?
Returns healthy, still under pressure Download PitchBook’s Report here. TVPI multiples—more simply known as investment multiples—remain healthy. Gains from post-vintage buckets (2010-2016) were all boosted by at least 0.08x over the past twelve months, with 2015 vintages leading the way with an overall boost of 0.16x…. Subscribe to Read MoreAlready a member? Log in here...
Alt asset fundraising falls in 2018 thanks to PE and private debt Real estate also fell, continuing a multiyear trend, after hitting a record high four years ago. Fundraising for core alternative asset classes – private equity, private debt, real estate and infrastructure – fell off a cliff from 2017 to 2018, largely driven by…
Investors think PE is too expensive, what about private debt? Making sure investors find the asset class a good place to find value can help it maintain its rapid growth. Private equity has mushroomed post-global financial crisis, but is it too expensive? That may be the prevailing sentiment according to limited partners surveyed by Private…