“It’s been a relatively slow year for us,” one managing partner related to us recently. His middle market private equity firm had just completed a successful fundraise, but was finding investing opportunities scarcer than last year. “We’ve only completed four new platform buyouts.” Then he smiled. “But we have done eighty-seven add-ons.” The prevalence of…
Predictions are tough, especially about the future. And after Thursday’s Dow tumble, it’s hard to dismiss outright doomsday forecasts that a credit apocalypse is coming soon. For leveraged lending bubble busters, their canaries in the capital coal mine are leveraged statistics. Are we past 2007’s high-water mark? To be sure, we’re hearing our share of…
“What’s the definition of an overheated market? One loan and two lenders.” That’s the supply/demand conundrum in the leveraged loan market today. While institutional and retail cash have certainly re-entered the asset class with vigor since the credit crisis, overall levels are not more than those enjoyed during 2007. Indeed, the short-term outlook might see…