Chart of the week

Showing 1–6 insights out of 333 results
Apr 25, 2025
By Research
2 minute read
Chart of the week

Mid-market PE managers less impacted by slowing IPOs

Private equity sponsor-to-sponsor exits have seen notable growth over the past five years, creating a ripe environment for middle market PE managers.

Column chart showing the change in private equity exits by channel over the past year and five years. Sponsor-to-sponsor exits saw the greatest increase over both time periods—141% over the 1-year period and 26% over the five-year period. Exits via IPO—a preferred avenue for large-cap PE sponsors—jumped in 2024 but fell nearly 50% over the past five years. The evolution in exits by channel highlights one benefit for middle market PE sponsors: greater exit optionality.
Apr 11, 2025
By Research
2 minute read
Chart of the week

Volatility highlights private credit lender protections

98% of lower middle market loans issued in 2024 included a covenant compared to just 10% for syndicated loans.

Column chart that divides new issuance volume in 2024 based on covenant protections. Among private loans, 72% of upper middle market loans (issuer EBITDA above $50M) included one or more covenants; 98% of lower middle market loans (issuer EBITDA of $50M or less) included a covenant compared to just 10% of syndicated loans. Issuer protections are less prevalent in the syndicated loan market, where loans are held by hundreds of investors with small tradable slices of exposure.
Apr 4, 2025
By Research
2 minute read
Chart of the week

Domestic resilience in vogue amid selloff

S&P firms with a global focus have been at the heart of this year’s selloff. U.S.-oriented firms have skirted trade tensions and fared better.

Line chart that splits the S&P 500 based on revenue sources: Higher-than-average foreign (black line) vs. domestic (orange line). Amid rising trade tensions, the 250 companies with the highest percentage of domestic sales have significantly outpaced those that derive more revenue from foreign sources.
Mar 28, 2025
By Research
2 minute read
Chart of the week

Trade uncertainty registers parabolic growth

Tariffs have been mentioned nearly 1,000 times on Q1 earnings calls, driving volatility and sowing uncertainty across markets.

Mar 21, 2025
By Research
2 minute read
Chart of the week

Private firms represent a dominant share of the loan market

Private firms account for 77% of issuers in the leveraged loan market today, highlighting the larger shift toward private markets.

Line chart showing the percentage of private and public companies that have issued leveraged loans since 2015. While private firms have issued the majority of loans over the past decade, the the gap between the two has widened significantly, from 59% private issuers in 2015 to 77% as of February 2025. The shift in the composition of the loan market highlights the larger growth of private credit, which represents a $1.1 trillion asset class today.
Mar 14, 2025
By Research
2 minute read
Chart of the week

Small cap stocks confront growing quality issues

70% of Russell 2000 companies that have IPO’d since 2020 have negative earnings, highlighting the challenges facing public small cap markets.
Showing 1–6 insights out of 333 results

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