Remove 2015 Remove Collateral Remove Leveraged Buyouts
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Private Credit, Meet “Higher for Longer”

Blackstone

With slower bank and leveraged loan growth, demand for partners in private credit is high. Private credit provided 65% of loans for the leveraged buyout (LBO) market in 2021 and 86% for the market as of year to date 2023. 12 Of course, not all private credit is created equal, as Jon discusses below.

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Transcript: Armen Panossian

The Big Picture

I had him on the show in 2015 and the thing that was so astonishing, 17.8% 00:19:57 [Speaker Changed] So collateralized loan obligation means that there’s some underlying asset which is used as your collateral, you then break that up into different securities and different tranches and out it goes. Just an incredible run.

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This Week in Pensions & Investments: 10-11-2023

Pension Pulse

Committed US$150 million to Hellman & Friedman Capital Partners XI, which focuses on leveraged buyouts and growth capital opportunities in North America and Europe, primarily in the technology & software, healthcare, financials and consumer & retail sectors. Our original investment was made in 2015 alongside BPEA EQT.

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Transcript: Gretchen Morgenson

The Big Picture

MORGENSON: It can be collateralized loan obligations, now it’s big private debt. ” RITHOLTZ: And you had the Gates study in, what, 2015, saying the same thing? But so you had these dividend recaps. And so, you actually had a study in Congress that had what might happen if we were to experience a pandemic. MORGENSON: Right.