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The Pulse of Private Equity – 2/18/2019

Are dry powder levels a concern? Download PitchBook’s Report here. PE capital overhang levels reached $800 billion last year between North America and Europe. For perspective, the buyout boom overhang peaked in 2008 at $599 billion. The cumulative weight of today’s dry powder isn’t the only difference between eras, however…. Subscribe to Read MoreAlready a member?

PDI Picks – 2/18/2019

The Goldilocks of capital deployment Despite heated discussion around perceived recklessness, most LPs are satisfied with how GPs have managed their capital. Much has been made of the large number of covenant-lite loans, cases of egregious EBITDA addbacks and other such exuberant late-cycle activity…. Subscribe to Read MoreAlready a member? Log in here...

Private Debt Intelligence - 2/18/2019

An Insight into Private Debt Returns Private debt has flourished in recent years: the asset class has raised over $100bn each year for the past four years and assets under management has reached a record $769bn as at the end of June – the latest data available. And while almost a third (32%) of investors…

Leveraged Loan Insight & Analysis - 2/11/2019

Global green loan volume nearly US$6bn one month into 2019 Barely five weeks into the new year, nearly US$6bn in green and ESG loan financings have worked their way through the global market. At first glance it may not seem impressive given the nearly US$9.5bn that was raised the same time last year, but green…

The Pulse of Private Equity – 2/11/2019

Bigger funds and lower margins Download PitchBook’s Report here. Over 90% of 2018 vintage PE funds were larger than their predecessors. That’s the first time in more than ten years that percentage has crept above 90%, the last being 2006.Opportunism is certainly at play, though its much more modest this time around…. Subscribe to Read MoreAlready

PDI Picks – 2/11/2019

The rise of the few in Europe In 2018, three European mega-funds raised more than one out of every three dollars focused on the region. A dominant theme in recent headlines has been concentrated wealth in the hands of the very few – and I’m not talking about income status. I’m talking about private credit….

Private Debt Intelligence - 2/11/2019

Strong Private Debt Deal Activity Leads to a Challenging Market The private debt industry has emerged as a vital part of the private investment market in recent years and due to strong fundraising, fund managers have had significant amounts of capital available to deploy: private debt dry powder reached a record $307bn as at June…

Leveraged Loan Insight & Analysis - 2/4/2019

Flex activity in the US institutional loan market snaps back to favoring issuers again Flex activity in the US institutional loan market snapped back to being issuer friendly in January, after December heavily leaned towards investors. This allowed LPC’s Flex Factor’s median flex score to drop to a very issuer friendly score of -1.0 last…

Private Debt Intelligence - 2/4/2019

Are First-Time Private Debt Funds Worth It? The private debt fund market has been somewhat unforgiving towards first-time funds. Investors are wary of investing with a fund that lacks a proven track record and as a result, first-time private debt fundraising is falling further and further behind…. Subscribe to Read MoreAlready a member? Log in