As we head into Q4 2020, the new normal in private capital markets has fully set in, generally defined by prudence and caution, albeit a work in progress.
Private asset valuations snapped back in Q2 as the economy began to reopen, and private capital investors took concrete steps to shore up portfolio companies.
A Q2 2020 update on credit spreads and required returns.
Considering the virus’ material impact on specific industries, we’ve seen a greater emphasis on secondary industry-specific loan indexes when controlling for credit risk.
As private credit manager valuation leaders scrutinize how to optimize their internal teams, they also are leveraging technology tools and third-party service providers—both domestic and offshore—to meet the demands of scale.
The only comparable event to the spread of the virus for modern private capital markets is the Great Recession, but there are some key differences this time.
While secondary indexes are good barometers of investor sentiment and market trends, the levels reflected may not fully reflect company fundamentals and deal pricing, reflecting the new normal in a COVID-19 economic environment.
We are proud to share a list of our accomplishments, successes, and completed client engagements.
VRC talks trends and what we could expect to see in 2020.
Market participants embrace best practice guidance, adjust policies accordingly. But the AICPA’s best practices are not without challenges and intricacies for the private debt and private credit professional.