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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 
Loan Stats at a Glance - 7/31/2023
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Fundraising slowdown
Download PitchBook’s Report here. Fundraising is in a slowdown, according to PitchBook’s US PE Breakdown. Through H1 2023, about $153 billion…
The Case for Junior Capital (Part Two)
We continue our discussion this week on why private mezzanine is going from strength to strength amid current economic and…
Seconds Away
All-in yields of second-lien loans have risen to keep pace with first-lien upswings.
US unitranche volume tallies under US$10bn in 2Q23 as jumbo deals become scarcer
US unitranche volume sank further in 2Q23, totaling US$9.4bn, the first time it tallied less than US$10bn since 2Q20. Large…
Rolling Tallies of MFN Sunsets
(Past performance is no guarantee of future results.) Contact: Steven Miller
Private Debt Intelligence - 7/24/2023
Private debt fundraising in North America holds up amid macroeconomic uncertainty [wpdm_package id=’65553′] The number of private debt funds closing…
How Have BDCs Performed Due to Rapidly Rising Interest Rates?
BDCs were well positioned to benefit from rising rates, given largely floating rate portfolios and the increase in fixed-rate funding…
Fundraising: Down but not out
Capital raising has proved a tough task so far this year, but investor support may be about to return. On…
KBRA DLD Default Forecasts for Liquid Credit: 3.25% ($45B) for HY, 4.5% ($65B) for BSL
Chart I Chart II KBRA DLD is forecasting a 3.25% default rate by volume (4% by number) for high yield…
Loan Stats at a Glance - 7/24/2023
Contact: Marina Lukatskymarina.lukatsky@pitchbook.com
Another mixed quarter
Download PitchBook’s Report here. US PE activity brought in mixed results in Q2, with deal volume up slightly and value down…
The Case for Junior Capital (Part One)
Back in December 2015 the senior debt market was in full swing recovery from the Great Recession. Interest rates were…
The Case for Junior Capital (Part Three)
This space has covered at length the investor-friendly changes in senior debt terms since the Fed began its rate hiking…