2021: Injections and Projections
What have you missed most over the past few months? Well, if you said “Grape-Nuts” we feel your pain. Our beloved cereal has gone missing from supermarket shelves across the US.
First produced in 1897 Grape-Nuts accompanied Sir Admiral Byrd to Antarctica and Sir Edmund Hillary to Mount Everest. But don’t worry. They’ll be back. The cereal, that is.
In the meantime Post Foods is running a contest. Ten lucky winners will receive a year’s free Grape-Nuts supply. Everyone else gets a coupon.
Credit investors, meanwhile, are hoping for a year’s healthy supply of deals. And it looks like both the economy and markets are cooperating…
▶︎ Read Feb 15 2021 newsletter: here
▶︎ Chart of the Week: here (by Refinitiv LPC The Middle Market Opportunity)
Latest news
PE fund distribution rates
Following 2021, buyout distribution rates have fallen to roughly 10% to 15% below the 25-year average.
Sub line pricing flattens
A report on the topic also finds that investors are less concerned by leverage in NAV loans. Pricing for subscription…