Pitchbook incorporates LCD research

Pitchbook has added Leveraged Commentary & Data (LCD) research into its platform, since acquiring the data provider in June 2022.

LCD offers news, analysis and index products related to leveraged loans. The data and research provider includes insight into prospecting debt transactions, managing loan portfolios, trading loan instruments, pricing transactions and risk management as part of its offering.

The first phase of LCD integration through Pitchbook will involve:

• Daily updates of new issue, secondary, default and amendment activity
• Weekly summaries of leveraged loans, high-yield bonds, distressed credit, mid-market, private credit and CLO activity
• Loans and bond deals statistics.

The additional content will accompany the institutional research on alternative assets, public equities and emerging technologies that Pitchbook already provides.

After this first integration phase, the aim is to integrate all of LCD’s offerings.

Silvina Aldeco-Martinez, vice-president of Pitchbook LCD, commented: "Under Pitchbook's ownership, we have further expanded our coverage to include BDCs and middle market lenders, and expect to continue expanding coverage to make sure our insights reach the entire alternative asset markets."

John Gabbert, CEO of PitchBook, added: "We've seen a major shift in the debt capital markets this year, with new issue volume for bank-led leveraged loans plummeting and private funds swooping in to fill the lending gap. Private credit continues to be an important market for originating leveraged buyout financing and is positioned to become a mainstay strategy long term. The marrying of our existing private capital research with LCD's credit research offering will allow us to serve a larger set of use cases for our existing customers and credit market participants."