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Middle-market valuation multiples are pointing to an increasingly liquid M&A market with valuation expectations broadly aligned with the 2017-2019 range, setting aside the distortions of the pandemic era. As of Q2, both the 2024 and trailing-12-month (TTM) figures are encouraging. Deal activity is improving, lender liquidity is ample, and financing costs are moderating after the reset in 2022.
(Past performance is no guarantee of future results.)
Latest news
Information technology topped nonaccruals on a cost basis
Maturities of loans switching to at least partial PIK tends to be longer-dated than Octus’ other stress trackers: nonaccrual and fair value write-down reports.
US Broadly Syndicated Loan CLO Defaults in 3Q26 Driven by Distressed Debt Exchanges
Out of court restructurings drove nearly all default activity within Fitch-rated U.S. broadly syndicated loan (BSL) CLO portfolios in 3Q26, Fitch Ratings says.