Content hub
Explore private capital market trends, in-depth research from leading industry partners, expert interviews, live webinars, and educational videos — all in one place.
Featured Article
Business of Private Credit: Coming Home
Much attention has been paid to the suitability of Matt Damon in the lead role as the wily Odysseus in this summer’s Christopher Nolan blockbuster.
|
August 12, 2026 
Lead Left Interview - Stephen Boyko
This week we chat with Stephen Boyko of Proskauer. Steve is a partner in the firm’s corporate department and co-head…
The Pulse of Private Equity - 4/3/2017
Plenty of value yet to be realized in older PE vintages
In the world of private equity, the long-persisting effects of the financial crisis are still evident, particularly when regarding fund returns from certain, most affected vintages. Funds from vintages between 2007 and 2009 inclusive still possess plenty of value yet to be realized, having taken relatively longer to build up total value to paid-in capital multiples given the effects of the crisis. In fact, the sizable disparity between what has been able to be realized thus far between funds of the 2009 vintage…
Private Debt Intelligence - 4/3/2017
Placement Agents and Private Debt
Placement agents servicing the private debt industry have been expanding their services to keep up with the development of the asset class. In addition to their traditional role of connecting fund managers with suitable investors, placement agents increasingly offer ongoing investor relations assistance, and services to help fund managers comply with regulatory standards…
Covenant Trends - Average Percentage Adjustments for EBITDA Reconciliation
Average Percentage Adjustments for EBITDA Reconciliation
Loan Stats at a Glance - 4/3/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
LBO purchase price multiples averaged 9.6 times in 1Q17
LBO purchase price multiples averaged 9.6 times in 1Q17
After averaging over 10 times for the past three years, the average purchase price multiple on LBO deals dropped to 9.6 times in 1Q17. A high concentration of smaller deals and a more diverse industry composition of LBOs in 1Q17 is a driver of multiples coming down so far this year. But lenders should not get accustomed to this trend. Lenders and sponsors confirm that lofty valuations continue to remain a major roadblock holding back a robust buyout environment this year…
Covenant Trends - Average Total Leverage Through F&C for M&A-Related Loans
Average Total Leverage Through F&C for M&A-Related Loans
Lead Left Interview - Kevin Griffin (Part 2)
This week we continue our conversation with Kevin Griffin, CEO and Chief Investment Officer of MGG Investment Group LP. MGG…
Capital Source
So far this year fundraising for middle market firms is matching the pace we saw in 2016.
The Pulse of Private Equity - 3/27/2017
On a long enough horizon, returns for PE funds of all sizes converge
By and large, the macroeconomic environment remains the most significant factor to bear in mind when assessing long-term private equity fund performance. Given the impact of the financial crisis, it makes sense that no matter the size of the fund in question, at the longest time horizon—10 years—internal rates of return (IRRs) have by and large converged. Following the typical J-curve of fund performance, at that point in the conventional fund lifecycle most assets that end up contributing to the majority of a fund’s return have already been sold…
Private Debt Intelligence - 3/27/2017
First-Time Fund Managers
The environment for first-time private debt managers has begun to stabilise in recent years as the industry continues to mature. Fundraising has been consistently robust, performance has been strong, and investors are increasingly open to the prospect of committing to managers without a proven track record.
First-time private debt managers secured a record total in 2013 ($9.6bn), and in the years 2013-14 firms have raised over $23bn as the market continues to develop….
Loan Stats at a Glance - 3/27/2017
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
League of Their Own
At the start of 2017 spring training, the NY Yankees had a undrafted prospect on their roster named Ruth. Not…