Platform LBO and growth equity deals as a share of all PE deals Download PitchBook’s Report here. PE growth investment activity continues to be an important category, making up 22.3% of all PE deals in Q2, down 30 basis points from the prior quarter…. Subscribe to Read MoreAlready a member? Log in here...
2Q25 US MM LBO volume down 30% quarter over quarter Middle market LBO loan volume totalled US$10.28bn in the second quarter, down 30% compared to 1Q25 results but up 2% compared to the year ago period…. Subscribe to Read MoreAlready a member? Log in here...
Unitranche spreads hover around recent market lows The most recent quarter was marked by intense competition among direct lenders and lower than hope for deal flow. In turn, spreads continued to hover around recent lows despite sporadic wider market volatility…. Subscribe to Read MoreAlready a member? Log in here...
Second-Busiest Day of Leveraged Loan Launches Brings Wave of Repricings Click here to access Bloomberg’s US Leveraged Finance Chartbook Following the most active single day of 2025 and the second busiest on record, the US leveraged loan market saw $61.7b in transactions launched to investors on Monday, July 21. By Wednesday, the weekly total had…
Fitch Ratings Completes Peer Reviewof 12 US BDCs Fitch Ratings has completed a peer review of 12 U.S. business development companies (BDCs). Fitch has affirmed the Long-Term Issuer Default Ratings (IDRs) on 10 issuers and completed two Review – No Actions. The Rating Outlooks for Oaktree Specialty Lending Corp. and Blackrock TCP Capital Corp. remain…
Carveouts/divestitures as a share of all PE buyouts by quarter Download PitchBook’s Report here. Carve-out transactions are running at 10.6% of all buyout deals in 2025, which is comfortably above the five-year average of 8.7% and last year’s 10.1%…. Subscribe to Read MoreAlready a member? Log in here...
Private Credit, Public Debate Richard Hunter, Chief Risk Officer at Fitch Ratings, recently published an op-ed sharing his insights on private credit. He addressed frequent questions we receive, including: Does Private Mean Opaque?… Subscribe to Read MoreAlready a member? Log in here...
2Q25 Total US direct lending LBO volume down over 47% quarter over quarter Talk of tariffs, inflation fears and anticipation of a congressional show down over the Trump administration’s “big, beautiful bill” contributed to heightened market uncertainty throughout much of 2Q25 and the direct lender loan market was not immune to the fall out…. Subscribe
Leveraged Loan Launches Accelerate in July Click here to access Bloomberg’s US Leveraged Finance Chartbook After launching over $33bn into the broadly syndicated US leveraged loan market last week, issuers have continued to jump into the market, with an additional $39.84bn launching so far this week through Wednesday July 16th…. Subscribe to Read MoreAlready a
US PE fundraising activity Download PitchBook’s Report here. PE fundraising has landed at a lower level than in 2024, which was already a worse year for fundraising than the three years prior, where the industry saw record-setting fundraising…. Subscribe to Read MoreAlready a member? Log in here...