PDI Picks – 7/31/2023

Investors flock to the middle


As previously highlighted by Lead Left, and supported by our fundraising data, junior capital strategies are becoming increasingly popular.

In last week’s version of the “Case for Junior Capital”, Lead Left drew attention to some of the positive characteristics of this type of investment in today’s environment including healthy cash/equity percentages, pricing “at or better than” pre-rate hike levels, improved call protection and increased flexibility around PIK toggles.