VRC and Eversheds Sutherland discuss questions fund boards are asking as they implement the new valuation rule.
Sustained Sell-Off in More Liquid Markets Since 2021 Continues to Impact Direct Lending Markets in 3Q 2022
Growth in the venture debt market space has been explosive – growing from $4.4 billion in total deal value in 2010 to about $33 billion last year.
Syndicated market activity in 2Q 2022 indicated wider primary and secondary credit spreads as increased volatility trends accelerate.
Syndicated markets experienced increased volatility and widening in some secondary markets as capital markets as central bankers tighten policy to combat inflation and the Russian invasion of Ukraine.
Post-Q4 2021, investors are reporting a greater willingness to underwrite more storied, high COVID impacted, or marginal issuers.
As we reflect on the private credit market in Q3 2021, direct lenders and private equity sponsors note trends remain similar to Q2.
The new buzz phrase—”monthly valuation”—is taxing internal valuation teams and redefining relationships between fund sponsors and valuation providers.
Learn why eminent private fund managers and their boards rely on our team.
Considering competitive market dynamics, market participants report a tightening in credit spreads since Q2 2020 and generally stable credit spreads in 2Q21.