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Private Debt Intelligence - 4/1/2019

Investor Satisfaction Dims in 2019 Private debt investors remain committed to the asset class, and their overall perception of the industry is positive. But Preqin’s latest surveys find that investor satisfaction has dimmed slightly at the end of 2018, as institutions foresee challenges for the industry in the months ahead…. Login to Read More...

Markit Recap – 3/25/2019

Economics undergraduates know that credibility is vital for monetary policy. But this fact is seemingly elusive for Turkey and their President Tayyip Erdogan. The sovereign is in the midst of yet another crisis,… Login to Read More...

The Pulse of Private Equity – 3/25/2019

Take-privates are cheap sometimes That’s according to Bain & Company, which made a salient point: “Despite the run-up in equity prices, public investors often undervalue companies they don’t understand.” That’s true, and the point is emphasized as public and private equity market multiples continue to converge…. Login to Read More...

Leveraged Loan Insight & Analysis - 3/25/2019

Primary yields widen to highest levels since 4Q11 1Q19 yields on first-lien institutional term loans are at their highest level in over eight years. At 7.66%, the average yield assuming a three-year term to repayment on first-lien institutional term loans is 94bp above 4Q18’s already high level…. Login to Read More...

Private Debt Intelligence - 3/25/2019

Women in Private Debt It is well-known that the representation of women in the alternative assets industry is relatively low, but the latest research from Preqin shows that women represent just 19.1% of employees in the private debt industry in 2019…. Login to Read More...

PDI Picks – 3/25/2019

Distressed debt managers get a distressing signal Fundraising soared in 2017, but it came crashing back to earth last year, and it may not change this year. Despite all the talk of the credit cycle turning, distressed debt fundraising dollars and investors’ portfolio plans aren’t jiving with the hullabaloo…. Login to Read More...

The Pulse of Private Equity – 3/18/2019

Returns healthy, still under pressure Download PitchBook’s Report here. TVPI multiples—more simply known as investment multiples—remain healthy. Gains from post-vintage buckets (2010-2016) were all boosted by at least 0.08x over the past twelve months, with 2015 vintages leading the way with an overall boost of 0.16x…. Login to Read More...

PDI Picks – 3/18/2019

Alt asset fundraising falls in 2018 thanks to PE and private debt Real estate also fell, continuing a multiyear trend, after hitting a record high four years ago. Fundraising for core alternative asset classes – private equity, private debt, real estate and infrastructure – fell off a cliff from 2017 to 2018, largely driven by…

PDI Picks – 3/11/2019

Investors think PE is too expensive, what about private debt? Making sure investors find the asset class a good place to find value can help it maintain its rapid growth. Private equity has mushroomed post-global financial crisis, but is it too expensive? That may be the prevailing sentiment according to limited partners surveyed by Private…

Leveraged Loan Insight & Analysis - 3/11/2019

Global green loan volume tops US$10bn ytd, shadowing record 2018 pace At a pace reminiscent of the record setting US$59.5bn total set in 2018, 2019 green loan issuance topped US$10.0bn so far in 1Q19. This is modestly off from results at the same time last year which stood at nearly US$11.8bn…. Login to Read More...