North America ascendant in rat race for capital Many smaller private debt funds may be targeting the continent, but that is at odds with the trend toward more capital in the hands of fewer managers. North America may be rising in private credit fundraising – funds targeting the continent are seeking $116.6 billion. Funds investing…
Sustainability-linked loan volume dominates Green-ESG pipeline Year to date, over US$83bn in global green and ESG linked loan volume has been announced, almost two times year ago levels. Of this total, over 80% or nearly US$67bn is in the form of sustainability or ESG linked loans. Amid global interdepence and heightened awareness of environmental risks…
Primary leveraged yields decline slightly in 3Q19 Primary yields have tightened slightly across rating levels so far in 3Q19. The main driver behind the decline in yields are falling Libor rates. At its current level of 2.13%, the 3-month Libor rate has dropped 19bp from 2.32% at the end of 2Q19. For single B issuers,…
Eight years in the black Between 2017 and 2018, LPs were on the receiving end of nearly $1 trillion in private equity returns, according to PitchBook’s new Global Fund Performance Report. Distributions came in at $480 billion last year, just off the record set in 2017 of $488.4 billion. Net cashflows topped $150 billion for…
Clearing the runway for venture lending VC fund managers are raising more capital, likely giving venture lenders more dealmaking activity. Venture capital fundraising could be on track to match last year’s $50.22 billion, according to data from sister publication Private Equity International…. Login to Read More...
Private Debt Cash Flows Investors commonly cite that they look to private debt to offer three advantages: portfolio diversification, a reliable income stream and high risk-adjusted returns. This strikes a balance between the perceived regularity and predictability of real assets, and the alpha generation of private equity investments…. Login to Read More...
Drawdowns are slower than they used to be Download PitchBook’s Report here. Record years for PE activity are often viewed as fast-moving frenzies, but capital call statistics show the industry is investing much more slowly than it has in the past. Drawdown rates have been relatively slow since 2012, even though 2014, 2015, 2016, 2017 and…
Enthusiasm for alternatives remain among investors Based on the results of the last survey of 177 institutional investors conducted in July 2019 by Preqin, we find out that investors remain upbeat about the future performance of alternatives but are aware this may not continue. Seventy-four percent of investors think that equity markets are at a…
North America tops PE fundraising yet again Despite a global maturation of the asset class, North America still remains the place to be. Private equity has grown globally in recent years, with maturing markets in both Europe and Asia-Pacific, but North America remains the dominant force it has been for years. In the first half…
Leveraged loan market expected to pick up amidst more volatile market backdrop Completed US leveraged loan volume totals US$105bn so far this quarter as lenders look for a pick-up in activity after the Labor Day holiday. 3Q19 leveraged issuance comprises US$59.8bn in new money volume with another US$45.3bn in refinancing volume. Refi activity has been…