Posts by THE LEAD
Stat of the Week: Number of Spaceflight Launched
Private Debt Intelligence – 3/6/2017
Investor Views on the Key Macroeconomic Factors Affecting the Private Debt Industry
Institutional investors currently hold the private debt industry in extremely high regard, with 93% of respondents surveyed by Preqin at the end of 2016 stating that their investments had either met or exceeded their expectations in 2016. However, investors will be keeping an eye on the macroeconomic factors that affected their portfolio in 2016 and are likely to make an impact in 2017…
Read MoreLoan Stats at a Glance – 3/6/2017
Contact: Blake Udland Blake.Udland@spglobal.com
Read MoreMarkit Recap – 2/27/2017
It is no secret that a divide – maybe a chasm – has opened up between the US and Europe. Donald Trump’s mercantilist views put his presidency at loggerheads with the globalist EU, though a post-Brexit UK may yet turn out to be an ideological bedfellow.
But this week we saw signs that a division is manifesting itself in the credit markets. The Markit CDX.NA.IG has rallied steadily in recent months – since Trump’s election victory on November 8 2016, the index has tightened from 75bps to 60bps. Over the same period the Markit iTraxx Europe was just 2bps tighter at 71bps. The 11bps basis between the two on-the-run indices is the largest for more than three years…
Read MoreStat of the Week: 30-Year Fixed-Rate Mortgages
Select Deals in the Market – 2/27/2017
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Read MorePrivate Credit vs. Public Debt (First of a Series)
One of the more discussed charts we’ve run in this newsletter recently compared direct lending yields with that of high-yield…
Read MoreLead Left Interview – Stephanie Link (Part 2)
This week we continue our conversation with Stephanie Link. Stephanie is a managing director and equity portfolio manager for TIAA…
Read MorePrivate Debt Intelligence – 2/27/2017
Private Debt Management Fees Drop to Eight-Year Low
Fund terms within the alternative assets industry have been of particular focus over the last few years as investors have largely united to push managers for greater transparency and improved alignment of interest.
Within the private debt industry, this approach appears to be paying dividends with the average management fee reaching an eight-year low for 2016 vintage funds which charge a mean fee of 1.63%…
Read MoreRelative Value
The attractiveness of the middle-market loan asset class is highlighted by its consistent premium over traditional high yield bonds.
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