Are the clouds beginning to lift? The deal market is showing signs of picking up, as positive news on a covid-19 vaccine brings hope even to the worst-hit sectors. Speaking to sources in the private debt market has been a surprisingly uplifting experience recently. Following many predictions of doom and gloom in the spring of…
Public PE is recovering Download PitchBook’s Report here. PitchBook’s latest analyst note brings some good omens for the PE industry. The five biggest publicly traded PE firms—Blackstone, KKR, Apollo, The Carlyle Group and Ares—posted healthy performance metrics last quarter, including double digit gains for Blackstone and KKR. Beyond the top five, most publicly traded PE firms…
Refinitiv LPC’s Quarterly Lender Survey: When do you expect to meet more than a handful of clients face to face? While the adjustment to working remotely has alllowed for new efficiencies, with lenders commenting that processes such as amendments for more straightforward asks could go through faster than pre-Covid, the challenge of sourcing new business…
Investors Swift Their Allocation to Private Debt The way in which private debt investors allocate is changing. The COVID-19 pandemic has made it challenging for investors to form new relationships and they might have chosen to invest with already known fund managers…. Subscribe to Read MoreAlready a member? Log in here...
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%…. Subscribe to Read MoreAlready a member? Log in here...
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…. Subscribe to Read MoreAlready a