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Investment banks, which faced significant losses on risky merger and acquisition (M&A) loans due to a spike in global interest rates, are now aggressively returning to the leveragedbuyout (LBO) market — one of the most profitable sectors in finance, according to a report by Bloomberg.
are in talks to provide as much as $8 billion in financing for a buyout of DocuSign Inc. that values the company at around $13 billion, according to people with knowledge of the matter. If provided by direct lenders, the financing would rank as one of the largest private loans on record, according to data compiled by Bloomberg.
Carlyle Group has secured private credit financing to acquire a majority stake in Australian waste management company Waste Services Group (WSG), according to a report by Bloomberg, citing sources familiar with the matter. Representatives from Carlyle, Ares, KKR Credit, and UBS declined to comment.
Although these deliberations are still in preliminary stages, potential buyers could include other private equity firms or data and technology companies such as the London Stock Exchange Group (LSEG) and S&P Global. The company has a strong customer base, with over 700,000 users in top leadership roles globally.
One of the best ways to create wealth is by investing in companies that pay a dividend. While many different types of companies pay dividends, business development companies (BDCs) represent a unique opportunity. The company specializes in an instrument called venture debt -- or loans made at high interest rates.
“The industry’s resilience and flexibility are filling market gaps and providing customized financing solutions. Private credit has become indispensable for businesses seeking financing, and is increasingly becoming their preferred option.” Currently, a substantial amount of “dry powder” – approximately $340.8
Hastings, who joins from Eversheds Sutherland, is a finance lawyer focused on leveraged and acquisition financing. Hastings acts for private equity firms and their portfolio companies, corporate borrowers and for private credit funds in relation to transactions at all levels of capital structures.
The two private equity firms are among the final bidders in the auction for DocuSign, which is set to be one of the biggest leveragedbuyouts of 2024, the sources said. A spike in financing costs in the last two years made financingleveragedbuyouts more expensive and big deals hard to clinch.
The fund received commitments from a diverse investor base which includes public pension plans, Taft Hartley plans, insurance companies, and family offices. Taurus Private Markets invests in value-oriented, lower middle market leveragedbuyout and private credit partnerships with target fund sizes less than $1.25bn.
billion) for a credit fund for Australia and New Zealand, as it seeks to capitalize on opportunities created by banks retreating from leveraged lending. The Ares Asia Direct Lending fund, the company’s first leveragedbuyout vehicle for the region, has deployed over A$1.04 Ares Management Corp. has raised A$2.6
The company is headquartered in Danbury, Connecticut, and is led by CEO Alec Searle. IGP’s track record of building and scaling A&D-focused, specialty metal forming companies made them a perfect partner for AMG,” said Mr. Searle. TPG Twin Brook was the administrative agent on the debt financing to support IGP’s buy of AMG.
dividend yield Hercules Capital (NYSE: HTGC) is a business development company (BDC) that specializes in providing capital to venture-backed start-ups. Hercules is different from a typical bank as it tends to offer more flexible financing options. Hercules Capital: 10.6% ARCC Total Return Level data by YCharts 3. Enbridge: 7.8%
Private equity firms including Advent International and Blackstone are approaching both banks and private lenders over debt packages of around €7.5bn ($8.16bn) to help finance a potential acquisition of Sanofi’s consumer health division, according to a report by Bloomberg.
Global law firm Goodwin has appointed Ian Keefe and George Weavil as Partners within the firm’s private equity practice in its London office, which covers M&A, private investment funds and debt finance.
But with so many opportunities out there, it's challenging to identify companies that both pay dividends and consistently perform at a high level. One good place to source ideas is to look at business development companies (BDCs). Horizon Technology Finance: Dividend yield 11.4% Hercules Capital: Dividend yield 10.5%
Ehsani originally focused on purchasing life insurance policies, but is now playing a pivotal role in Apollo’s push to fund major multinational corporations as the firm’s Global Head of Principal Structured Finance. These deals convert future cash flows into investment-grade debt, benefiting both Apollo and its counterparties.
The report, titled ‘Escalating private credit competition will increase risk and scrutiny’, predicts that leverage “will increase in a number of ways that may not be immediately visible or obvious, be-cause many of these instruments are already commonly used for a range of financing needs”.
” Private equity firms are preparing for a recovery in leveragedbuyout volumes in 2025, supported by falling interest rates, a backlog of capital to deploy, and opportunities linked to the explosive growth of artificial intelligence (AI). Earlier in 2023, it agreed to acquire Australian data centre operator AirTrunk for $16bn.
Business development companies (BDC) can be particularly good sources of dividend income, paying above market returns. This lets Hercules benefit from some of the upside of a liquidity event for one of its portfolio companies, such as an initial public offering or a sale. HTGC price-to book-value; data by YCharts. Ares Capital: 9.3%
Rose specialises in mergers and acquisitions, financing transactions, private equity and general corporate matters, according to a press statement. He has previously worked at Wick Phillips, Kane Russell Coleman Logan, Whitaker Chalk Swindle & Schwartz and XTO Energy Inc, a subsidiary of ExxonMobil, according to his LinkedIn profile.
The report cites CEO Marc Rowan as unveiling the ambitious growth plan during the firm’s investor day presentation, signalling a strategic shift as companies increasingly turn to private capital for financing, rather than traditional bank loans. We are just at the beginning of this trend.”
For some, investing in companies taking advantage of emerging trends, such as artificial intelligence (AI), can be lucrative. However, this approach requires investors to speculate about which companies are best positioned to win long term. In exchange for capital, founders will give up equity in their company.
However, it's evident that companies are starting to realize that the stocks that have gotten left out of the rally so far have intrinsic value of their own. The Pittsburgh-based iconic steel company received a buyout bid from a Japanese counterpart that could reshape the entire steelmaking industry. Image source: Getty Images.
The company has also made significant advances in robotics, both in its factories and with its Optimus humanoid robot. Even after selling a big chunk of shares to finance his leveragedbuyout of Twitter in 2022, Musk owns roughly 13% of Tesla. So why does he want more control of the company?
Blackstone, the world’s largest private equity firm, has turned to direct lenders to help finance its $2.3bn acquisition of Rover Group, the world’s largest online marketplace for pet care, with the firm seeking about $250m of private debt, according to a report by Bloomberg. Some lenders have pushed for a higher price, however.
PARTNER CONTENT By Lou Gueroeva Private Equity Business Development Lead, Zanders In the modern private equity (PE) landscape, there is a growing shift from traditional financial engineering towards operational value creation, with treasury and finance optimization becoming key drivers of sustainable returns. Treasury 4.x,
Bain Capital Credit’s Private Credit Group invested in 30 businesses across 15 industries in H1 2023, supporting the refinancing, leveragedbuyout, and add-on acquisition activity of both new and existing portfolio companies. Like this article?
Speaking in the sidelines of this week’s IPEM conference in Cannes, the report quotes Hirschmann as telling Bloomberg TV that as large businesses “tend to be safer credits…there’s certainly a reason to be lending to those big companies and still generate 9-10% gross yield”.
Lately, much attention has been lavished on Ares Capital, the unit created in 2004 to provide financing for middle-market acquisitions, recapitalizations, and leveragedbuyouts. In the last two quarters of 2022, the non-accrual rate — the percentage of companies that missed payments — in Ares Cap’s portfolio was 1.7
Janet Coscino (Chicago) leads complex transactions for private equity firms, as well as public and private companies, across a variety of industries. Jamie Darch (Chicago) is a health care lawyer who guides life sciences and health care companies and investors on transactional, regulatory and compliance matters.
Troutman Pepper adds to PE group Submitted 18/08/2023 - 11:49am Private equity debt financing partners Jonathan Homer and Bruce Stainers have joined Troutman Pepper's Corporate Practice Group in New York and San Francisco, respectively. He works with PE sponsors, debt investment funds, publicly traded companies, and privately held ventures.
As a responsible company, Drakai Capital plants a tree for every trade and every investor subscription. A: Drakai Capital believes that every single step matters in the fight against climate change. We aim to balance our carbon footprint through various climate action projects. markets.
The Lincoln Private Market Index (LPMI), which tracks changes in the enterprise value of privately held companies in the United States, increased by 1.9% Leveragedbuyout volumes remained down from historical highs in Q2 2024, as did EBITDA purchase price multiples, which decreased from 11.5x in the second half of 2023 to 11.1x
Private credit firms discussing $3.4bn Hyland loan package Submitted 25/08/2023 - 11:11am A group of private-credit lenders led by Golub Capital, Ares Management Corp, Blue Owl Capital, and Oak Hill Advisors, are in talks to extend a $3.25bn loan to Hyland Software Inc, so the company can refinance existing debt, according to a report by Bloomberg.
2020: Black Swan Moment Coronavirus, the black swan of 2020, had a significant impact on the private equity industry, causing uncertainty and volatility in financial markets, disrupting deal-making, and affecting portfolio companies across various sectors. AI , in particular, is helping to drive this trend.
Private Equity Private equity is a form of alternative investment that involves investing in privately-held companies. It encompasses strategies such as venture capital, leveragedbuyouts and investing directly in publicly-traded private equity firms. trillion in buyouts, highlighting its resilience and impressive growth.
Private Equity Private equity is a form of alternative investment that involves investing in privately-held companies. It encompasses strategies such as venture capital, leveragedbuyouts and investing directly in publicly-traded private equity firms. trillion in buyouts, highlighting its resilience and impressive growth.
Credit crusaders fill the wall street void Submitted 27/06/2023 - 1:54pm This article first appeared in the March 2023 T ech Buyouts Insights Report Private credit funds could become a more permanent fixture in tech’s leveragedbuyout market thanks to their speed of execution and reliability, especially in challenging macroeconomic conditions.
4 To discuss the opportunities in this rising asset class and how to navigate the benefits and challenges of higher-for-longer rates, I welcome, as indicated below, the perspectives of Jonathan Bock, Co-CEO of Blackstone’s Business Development Companies (BDCs) and Global Head of Market Research for Blackstone Credit.
There aren’t a lot of companies, and there aren’t a lot of people that have the historical perspective on the rise of private equity like Michael Fish does. Were you always thinking about going into finance? What, what was it that made you say, Hey, this finance thing looks like it’s fun and interesting?
They have $37 billion in clients and their own funds, of which they have invested across a variety of disciplines from credit to strategic capital, as well as taking companies private and helping them grow into something more substantial than they’ve been in the past. And so it was a whole new idea, I found it very interesting.
I found this conversation to be absolutely fascinating if you’re at all interested in things like hard debt and what distressed asset buying is like, and what it’s like to take over a company, not through its equity, but through its defaulted debt. So, is it, is it safe to say finance was always in the career plans?
Tampa Bay Times ) • Is Michael Platt the Highest Earner in Finance? Now their dispute is exposing dynastic secrets ( New Yorker ) • FTX Founder Gamed Markets, Crypto Rivals Say : Sam Bankman-Fried found ways to control the prices of digital coins to benefit his companies, FTX and Alameda, according to cryptocurrency investors. (
KKR, the Canada Pension Plan Investment Board (CPPIB), and Axel Springer CEO Mathias Döpfner are working to secure approximately €4bn ($4.2bn) in debt to finance a strategic separation of the German media giant’s classified ads businesses from its news operations, according to a report by Bloomberg.
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