Private debt’s next frontier Asia-Pacific has many attributes which should make investors sit up and take notice. In our recently published Asia-Pacific Report, PDI examined prospects for private debt in the region. As can be seen from the chart above, fundraising has held up well even amid the turbulence of 2020. So what is driving
Cross-border acquisitions have slowed dramatically Download PitchBook’s Report here. M&A activity is expected to increase in the quarters ahead, but one trend that may need more time to recover is cross-border M&A. PitchBook’s latest M&A numbers show a steep decline in in-bound M&A deals for North American companies. Thus far, only 526 in-bound M&A deals have
New money loan assets make up 60% of 4Q20 leveraged volume to date 4Q20 US Leveraged loan volume was tracked at $39.8bn through October 22nd, up 8% compared to the $36.9bn raised during the same time last year. Of this total, $24bn or 60% of quarterly issuance thus far represents new loan assets while the
Private Debt Performance Private debt has proven to deliver stable returns in the longer-term (three years plus). Across all strategies, 5-years to March horizon IRRs, mezzanine funds have the strongest returns (7.6%), making the overall private debt returns of 5.1%....
Refinancings to the fore It’s one way in which private debt is changing as a result of the global health crisis. With parts of the world seemingly going through a second wave of the coronavirus, it’s difficult to accurately predict how the asset class will develop over the coming years. But some pointers are beginning
Middle market syndicated non-sponsored volume dropped in 3Q20 Non-sponsored syndicated loan issuance of US$10.2bn in 3Q20, was down 24% from already low 2Q20 figures. 3Q20 issuance was spread over 80 deals, the lowest level of transactions in a quarter for at least 13 years. Refinancings plummeted once again in 3Q20....
Sun Life’s $338M acquisition of Crescent Capital underscores confidence in direct lending Sun Life Financial’s $338 million acquisition of Los Angeles-based Crescent Capital underscores investor confidence in direct lending, even as the Covid pandemic has upended global economies. Sun Life, a Toronto-based insurance company that has a small direct lending team within its $193 billion
Not everyone is buying Download PitchBook’s Report here. Private equity enjoys some advantages over corporate acquirers right now. PitchBook’s latest North American M&A Report, now available, visualizes this trend in the chart above. Third quarter numbers show a small uptick in PE deals and a small slowdown in corporate M&A, resulting in a sharp spike in
Record Amounts of Funds and Capital in the Private Debt Market The number of private debt funds in market and the capital targeted have reached new records at the beginning of Q4 – 521 funds in market seeking for a combined $295bn. This is a 54% increase compared to January 2020, when funds on the
Fundraising has not been stopped in its tracks Senior debt strategies lead the way as capital accumulation manages to retain some forward momentum. Private debt funds raised a total of $109.8 billion during the first nine months of 2020, the lowest figure since 2016, according to PDI data (see chart above)....