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European transaction numbers dip as capital deployed on loans increases

Falling deal numbers have not hampered the rate of capital deployment which is set to reach record levels.

Mid-market lenders, banks more willing to push on leverage: Survey

As US federal leveraged lending guidance statutes have become a thing of the past, banks are showing a willingness to compete with direct lenders.

The changing focus of European private debt

A recent roundtable revealed managers have new strategic priorities and different sources of capital to target.

Why the US may have reached a peak

What defines the Stateside private credit market in 2019? Our recently published US report identified the following themes.

If the cap fits, wear it: The addback fightback

The EBITDA addback has become one of the most controversial aspects of deal documentation. Research shows lenders are resisting the most extreme examples.

PE buyout loans surge in Asia-Pacific – report

Lenders refocus on backing acquisitions by sponsors, including Brookfield, Partners Group, and TPG.

The universe keeps expanding

Private debt funds’ share of buyout market financing has continued to climb, although they are likely to hit the ceiling eventually.

Debt funds pass banks in German LBO financing

In 2012, debt finance for the German leveraged buyout market was completely bank dominated. Seven years on, debt funds have attained a majority market share.

Europe ventures into the unknown

The continent looks set to follow in the footsteps of the US as venture lending gathers steam, but challenges lie in wait.
Car mechanic

Dyal’s new credit vehicle: a look under the hood

A look at the debt fund's loan terms, expected performance and opportunity set.

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