The history and data of collateralized loan obligations show that CLOs, in general, and middle-market CLOs specifically, continue to perform very well through various economic cycles and market shocks.
SOFR is emerging as LIBOR’s benchmark successor for private loan market participants. Key differences in maturity and credit profiles must be considered.
Post-Q4 2021, investors are reporting a greater willingness to underwrite more storied, high COVID impacted, or marginal issuers.
What makes valuing venture debt investments unique compared to debt investments in more established companies?
As we reflect on the private credit market in Q3 2021, direct lenders and private equity sponsors note trends remain similar to Q2.
New FASB guidance allows companies to apply the revenue recognition standard (ASC 606).
The continued growth of goodwill raises the stakes for U.S. & international standards setters considering changes to the way companies account for the assets.
The new buzz phrase—”monthly valuation”—is taxing internal valuation teams and redefining relationships between fund sponsors and valuation providers.
Considering competitive market dynamics, market participants report a tightening in credit spreads since Q2 2020 and generally stable credit spreads in 2Q21.
VRC’s Rule 2a-5 Resource Guide provides the details fund managers and fund boards need to come into compliance with the SEC’s new regulations to fair value portfolio securities.