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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.
The Fran & Ran Show (Part II): 1Q20 Direct Lending Outlook, with Fran Beyers
#DirectLending #MiddleMarket
State of the Capital Markets – Fourth Quarter 2019 Review and First Quarter 2020 Outlook
Review of Current Market Conditions/ Analysis of Capital Markets Metrics/ Review of Credit Quality/ Outlook for First Quarter 2020
2020 prediction – SWFs and pensions will become more sophisticated
Download PitchBook’s Report here. Sovereign wealth funds and public pensions financed private equity for years before they began co-investing in deals…
Fees are still a sticking point for private equity LPs
High fees have become a focus for critics of the industry, and fund managers will need to make their case…
DL Deals Monthly Scorecard: December buyouts swamped volume, lenders closed out 51 transactions
[wpdm_package id=’31357′] Buyouts swamped direct lending activity in December, accounting for 61% of volume, a big leap from the two…
Synergies & Cost Savings EBITDA Addbacks (Capped vs. Uncapped vs. None Allowed)
Contact: Steven Miller
Back to Earth
2019 leveraged loan volume was off 35%; the second straight decline since the 2017 peak.
Loan repricing streak continues into 2020, spreads to single-B names
Source: Debtwire Par Institutional loan repricings have continued their hot streak into 2020, with USD 17.9bn of repricings in the…
Middle Market Deal Terms at a Glance - Jan 2020
Source: SPP Capital Partners Contact: Stefan Shaffer stefan@sppcapital.com
Private Debt Intelligence - 1/13/2020
Private Debt Fundraising Slows in 2019 [wpdm_package id=’31320′] More than 200 private debt funds closed in each year from 2015…
Loan Stats at a Glance - 1/13/2020
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
The Fran & Ran Show (Part I): 1Q20 Direct Lending Outlook, with Fran Beyers
#DirectLending #MiddleMarket









2020 Hindsight
Remember your summer internships in high school? Neither do we. There’s a vague recollection of delivering mail for a financial…