Q3 2023 European Private Market Update

While the European private debt market faces heightened competition, deal flow is expected to improve in 4Q 2023 and early 2024 as market participants anticipate and more accessible fundraising environment and improving market conditions.

Navigating the Choppy Waters of Private Equity

When looking at 2023’s PE landscape, the turbulence is clear. In exploring key trends, challenges and strategic shifts, we note that industry players are resiliently charting a course forward.

Decoding SEC Guidance: Pay Versus Performance Disclosure Requirements

Unlock the complexities of the SEC’s Pay vs. Performance Disclosures to seamlessly navigate the regulatory landscape and set the stage for a confident proxy season.

How Private Lenders Treat Discounts on New Loans

Through an informal survey, VRC identified a discernible preference for treating the OID as incremental yield consideration and amortizing it over the life of the loan, though that approach is by no means uniform.

3Q 2023 Update: Middle Market Credit Spreads, Required Returns

Market participants have a cautiously optimistic outlook for the remainder of the year despite continued concerns.

The ASC 842 Lease Accounting Implementation Saga Continues

Explore the ongoing saga of ASC 842 lease accounting implementation, including its impact on private and public companies. Learn about practical shifts, clarifications, and the challenges of determining the incremental borrowing rate (IBR) as VRC offers a dual methodology approach.

Insights Into Collateralized Loan Obligations, Long-Term Intertranche Premiums

Delve into the dynamics of CLO investments as we focus on the IRR comparison between CLO equity and BB-rated CLO debt to asses the ongoing validity of long-term inter-tranche premium used by market participants.

Venture Capital Down Rounds Reach Five-Year Highs: What Lies Ahead?

In today’s venture capital landscape, challenges persist, and companies delaying fundraising must face the reality that a near-term light at the end of the tunnel is not guaranteed.

How Private Borrowers Are Holding Up Against Persistent Inflation, Earnings Headwinds

A close look at private debt markets shows many borrowers need more wiggle room and are counting on a reversal in short-term rates or more forbearance from lenders.

Navigating the Changing Tides of the SPAC Market Liquidation Wave

SPACs are liquidating faster than ever, and the crashing wave is changing the way investors think about their SPAC positions.