13.3% returns in Q3 Download PitchBook’s Report here. PE fund returns data continues to pour in, giving us a clearer picture of COVID’s impact in 2020. Finalized Q3 2020 data shows a 13.3% return, on a global basis, according to PitchBook’s just-released Global Fund Performance Report. That surpasses the 9.1% return in Q2, and between those…
Europe plays catch up in global PD Although North America-focused funds still constitute 61% of total private debt AUM globally, other regions are gradually expanding their share. Particularly in Europe, which made up 30% of global private debt AUM by June 2020…. Subscribe to Read MoreAlready a member? Log in here...
The default story may have another twist Aided by support schemes, many businesses have been protected from the worst effects of the pandemic. But what happens when the support comes to an end? “While we are not out of the woods, we have seen a large number of loans return to performing credits, and we…
M&A loan volume kicks up in 2Q; WarnerMedia/Discovery provides further boost Both high grade and leveraged loan arranger alluded to the flurry of M&A discussions that had kicked up at the end of 1Q21 and their hopes for a steady pipeline of deals into 2Q. Barely six weeks into the second quarter, nearly US$80bn in…
Institutionalizing sports investing Download PitchBook’s Report here. Buying ownership stakes in professional teams has become a new credential for the most successful investors. A new PitchBook analyst note goes into detail about why that trend may continue, but with an institutional twist. In the last handful of years, the NBA, MLB and MLS have all altered…
Growth of PD funds in market accelerates in Q1 The number of private debt funds in market has been rising consistently over the past five years, but the last quarter has seen a marked acceleration. There are 592 funds in market as of April 2021, a 36% increase compared to January 2020…. Subscribe to Read
Timing is key in distressed debt The global pandemic provided another reminder that moving fast when opportunity arises is vital for managers in the space. When covid began spreading swiftly around the world early last year, a key facet of distressed debt investing was reinforced – the importance of timing. As public and private markets…
US$93.8bn of CLO issuance priced and closed in 2021 to date In another indication of robust leveraged loan market activity in 2Q, the CLO calendar continues to grow at a record pace. There has been US$148.4bn of US CLO volume recorded so far in 2021, split between US$54.6bn of new issues, US$53.3bn of refinancings and…
A good start to the year for public PEGs Download PitchBook’s Report here. The “Big Five” PE firms that trade publicly—Blackstone, KKR, Apollo, Carlyle and Ares—had an impressive start to 2021. PitchBook’s latest analyst note takes a close look at their Q1 2021 financials, which showed sustained momentum coming out of the pandemic late last year….
Remote due diligence is here to stay The challenges of life away from people and offices may have hindered private debt fundraising to an extent, but video meetings also have their supporters. Fundraising these days is a tough slog, right? Well certainly for private debt anyway, even if the still-surging private equity asset class managed…