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Private Credit Defaults 101: Back to School
As Labor Day approaches, the unofficial end of summer is upon us. But, before we get too sad, there is also the familiar back-to-school energy.
Private Debt Intelligence - 8/1/2022
Growth of mega funds masks smaller fund activity [wpdm_package id=’57977′] In keeping with the growing trend of consolidation within the…
Welcome to the Precession!
Not since 1969 have there been two milder consecutive negative growth quarters.
Rolling Tallies of MFN Sunsets
(Past performance is no guarantee of future results.) Contact: Steven Miller
Loan Stats at a Glance - 8/1/2022
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Jumbo loan buy-out financings remain prevelant amid choppy secondary market
Source: Debtwire Par Leveraged loan and high-yield bond issuance backing buy-outs exploded in 2021, increasing 95% over the 2020 figure…
Fewer first-time funds
Download PitchBook’s Report here. Last year was a better year for first-time fundraisers, according to PitchBook’s latest US PE Breakdown. Rookie…
Percentage of Loans with Asset Sale Sweep Step-downs
(Past performance is no guarantee of future results.) Contact: Steven Miller
Middle market unitranche leverage declines in 2Q22
Leverage on middle market unitranche loans tightened to 5.57x in 2Q22, its lowest level since 3Q20, as it continued to…
Relative Value in Large and Midcaps
June’s CPI report showed inflation running at 9.1%, dashing hopes that consumer prices had peaked. Data came from across the…
Pushing aside senior debt
When is senior debt really senior debt? A new report into so-called ‘priming’ brings this into question. Last year saw…
The Great Unwind (First of a Series)
One of the enduring mysteries of human behavior is our perpetual discomfort with the present. Why can’t today be more…
Misleading Indicator?
The Conference Board index of ten leading indicators points to only a modestly slowing economy.
Private Debt Intelligence - 7/25/2022
Rapid growth in fundraising of Asian private debt funds [wpdm_package id=’57696′] There has been a rapid uptake in fundraising by…






The Great Unwind (Second of a Series)
News reached us last week of the demise of the Choco Taco. Or not. Cousin to the Klondike Bar, this…