Market Observations & Thanksgiving Wishes

As we head into the Thanksgiving holiday in the U.S. next week and try to take a breather from the breakneck pace of the market over the last 18 months, it is a good time to reflect on where we have been, where activity levels stand and the trends we expect to continue into 2023.

2021:

This was a record year for our market, almost beyond belief. A surge in private fundraising, accelerating capital velocity, and ample bank lending capacity translated into unprecedented growth in the fund finance market. The numbers say it all:

• Deal volume (inclusive of new deal originations and facility increases and extensions) were up 56%. This is exclusive of the more than 800 other amendments (i.e., SOFR transitions) that were also processed by our team.