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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.
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August 12, 2026 
The Pulse of Private Equity - 11/7/2016
PE buyers still rooting for value in lower reaches of US middle market
The proliferation of private equity funds into all reaches of the US middle market has been well documented. Increased PE activity in the lower and core segments of the middle market is easy to see, particularly when assessing the median transaction size, which declined from a high in 2014 to $133.0 million last year and $128.6 million through the end of September. The slides aren’t dramatic, of course, but as can also be seen in the relatively more resilient proportions of PE dealmaking within the lower middle market…
Stat of the Week: Total Consumer Credit Owned and Securitized
Total Consumer Credit Owned and Securitized
Loan Stats at a Glance - 11/7/2016
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
Piling On
Add-on volume for the overall market rebounded sharply during 2Q 2016 from the first quarter, though slowed last quarter.
Private Debt Intelligence - 11/7/2016
Private Debt Dry Powder by Fund Type
The past few years have seen a large amount of investor capital in private debt funds remain unspent by fund managers, with strong fundraising activity resulting in a significant ‘wall of capital’. In 2016 so far, private debt dry powder has climbed to $199bn, up from $191bn at the start of the year, although levels of uncommitted capital have fluctuated across different fund types.
Dry powder held by distressed debt managers has risen by nearly a third (31%) since the end of 2014 and now stands at $63bn, the highest of any fund type…
Leveraged Loan Insight & Analysis -10/31/2016
U.S. CLOs posted their best month since June 2015 with issuance of $8.4 billion in October, taking year to date issuance to $54.5 billion. In addition to new issuance, much of the energy in October was focused on refinancings and resets in advance of the upcoming risk retention deadline. After the new regulation comes into effect on December 24, compliance with risk retention rules will be required for deals that refinance…
The Art of the Add-On (Second of a Series)
Last week we began our series on acquisitions by platform companies of private equity sponsors (“add-ons”) by examining the various…
Adding Up
Sponsored acquisition volume for platform companies has averaged less than $2 billion for past five quarters
The Pulse of Private Equity - 10/31/2016
Secondary Buyouts Still a Primary Route for PE Sellers
335 secondary buyouts have been closed through the end of September, putting the year on pace to fall short of 2014’s tally of 482 but still third-highest of the decade. Given the impact of outliers, this year’s total secondary buyout value may not impress as much as much as those of 2007 or 2015, but it is still quite considerable. In short, private equity sellers are still utilizing fellow sponsors as an exit route nearly as avidly as they were in the past two years…
Lead Left Interview - Tod Trabocco (Part 2)
This week we continue our conversation with Tod Trabocco, Managing Director at Cambridge Associates LLC. Cambridge is a leading investment…
Private Debt Intelligence - 10/31/2016
Europe-Focused Private Debt Fundraising
The Europe-focused private debt industry has enjoyed substantial fundraising success in recent years and many countries within the region have seen heightened alternative lending activity in the last decade. However, a notable decline in direct lending in 2016 YTD has contributed to a wider slowdown in fundraising activity focused on Europe throughout the year…
Loan Stats at a Glance - 10/31/2016
Contact: Timothy Stubbs timothy.stubbs@spglobal.com
The Art of the Add-On (Third of a Series)
The process of identifying successful add-ons is a complex one. Each sponsor has developed over the years a different style…