What is The Lead Left?
The Lead Left reviews deals and trends in the capital markets. Our publication has a unique focus on the mid-market space and is read by thousands of influential industry participants.
When you subscribe to The Lead Left, you become a member of an exclusive club of readers. As an experienced professional and decision maker in the capital markets, investment banking, and corporate finance sectors, you will have access to the leading one-stop provider of middle market deals and data. You will also receive insightful market trend commentary and analysis, and exclusive interviews with thought leaders. The Lead Left also gives you world-class content from top market research partners.
Since 2008, The Lead Left has become the premier source for information on trends in the middle market space. Distributed weekly to over 40,000 readers, this newsletter is the only publication of its kind in the industry. Produced by Churchill Asset Management's Head of Origination and Capital Markets, we give you an insider's perspective, supported by over thirty years of investing and market experience.
What Does "Lead Left" Mean?
“Lead Left” is not a political reference. From the early days of investment banking, firms publicized their roles in securities offerings. Below the issue description, the lead underwriter was listed first, at the left margin of these 'tombstone' ads. The other syndicate members, ranked by underwriting size, were listed to the right. The leveraged loan market adopted the terminology; the “lead left” is the bank responsible for the underwriting and syndication of a senior credit facility. Hence, the term denotes a position of authority and responsibility.