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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.
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September 2, 2026 
Tale of Two Classes
As the Fed reversed course on interest rates last year, cash fled loan funds and piled into high-yield bond accounts.
Clearing the runway for venture lending
VC fund managers are raising more capital, likely giving venture lenders more dealmaking activity. Venture capital fundraising could be on…
Private Debt Intelligence - 9/9/2019
Private Debt Cash Flows [wpdm_package id=’28057′] Investors commonly cite that they look to private debt to offer three advantages: portfolio…
Average Free-and-Clear as a Multiple of Pro Forma Adjusted EBITDA
Contact: Steven Miller
Loan Stats at a Glance - 9/9/2019
Contact: Marina Lukatsky marina.lukatsky@spglobal.com
Special Report: Covenantive Easing
In May 2019 The Lead Left published a series of articles on covenant trends. This report consolidates those articles.
Drawdowns are slower than they used to be
Download PitchBook’s Report here. Record years for PE activity are often viewed as fast-moving frenzies, but capital call statistics show the…
2Q 2019 Middle Market Covenant Research
Lead Left Readers’ Say: Covenant TrendsInfogram
HY bond issuance slows sharply in August, flows turn negative
Source: Debtwire Par, Lipper High yield bond issuance slowed sharply in August, totaling just USD 9.5bn, the lowest monthly figure…
Percentage of Loans with Uncapped Synergies & Cost Savings EBITDA Addbacks
Contact: Steven Miller
Private Debt Intelligence - 9/2/2019
Enthusiasm for alternatives remain among investors [wpdm_package id=’27878′] Based on the results of the last survey of 177 institutional investors…
North America tops PE fundraising yet again
Despite a global maturation of the asset class, North America still remains the place to be. Private equity has grown…
Heads and Tails
News reached us last week of a two-headed snake found in the Pine Barrens of southern New Jersey. The young…