Private Equity
Could that crazy law of unintended consequences be playing havoc with every LP’s dream of co-investing with their favorite GPs by actually lowering IRRs? Hard to imagine, but it could be true — at least for mezzanine funds.
3 min read · 12 March 2014
Anyone familiar with the private equity sector knew that the first half of 2013 was going to be slow going for the M&A market.
4 min read · 29 October 2013
Take five investment bankers, add three private equity professionals, throw in a couple of senior lenders and another few junior lenders, give each of them a company’s prior year’s audited financial statements, fifteen minutes with management, and ask each of them to tell you what the company’s EBITDA is. I can almost guarantee you that the number of different answers you’ll get will exceed the number of professionals considering the question.
3 min read · 23 May 2013
The debate continues as to whether today’s financing environment is as good, or better, than in 2007. But we tend to believe that, at least from a liquidity standpoint, conditions are more favorable than they were back then. Not only is debt readily available but for the first time there are two, very distinct, cash flow-oriented structures available to mid-market borrowers.
4 min read · 29 April 2013
It’s actually better than 2007!
3 min read · 13 March 2013
A new year is always a good time for reflection and it can be especially prudent to look back and see if there were any trends that transpired during the past year that may affect the coming year. As we start 2013, two such trends that occurred in 2012 jump out.
4 min read · 23 January 2013
During the last few weeks, three finance companies successfully completed the IPO process to become publicly traded business development companies (BDCs), committed to lending to the middle market. The fundraises promise to add to a large, growing war chest of capital available to finance mid-market buyouts.
3 min read · 16 November 2012
That's the question facing lenders who may worry that sponsors won't be as engaged with portfolio companies that they've already taken money out of.
4 min read · 24 October 2012
With income tax increases fast approaching, company earnings improving, and acquisition capital readily available, now would seem like an ideal time for owners to diversify their assets and seek liquidity.
3 min read · 19 September 2012
Attention private equity investors! Have you been wondering why all those family and entrepreneurial owned companies are not eagerly putting their companies up for sale?
3 min read · 20 August 2012
