Private debt

The EBITDA addback is one of the most worrying aspects of loan documentation. Market professionals detail how prevalent and potentially damaging it has become.

In buying Oaktree and capturing its credit business, Brookfield now has capital to serve its clients at all times, says chief executive Bruce Flatt.

Oaktree Capital Management wasn’t looking for a partner when Brookfield Asset Management approached it about a deal. Founder and industry luminary Howard Marks talks PEI through the transaction, and what lies ahead for private markets.

Private equity firms taking non-control stakes in other such firms is booming, but the off-ramps for such deals remain mostly theoretical.

It’s pointless guessing when the benign credit cycle will end, according to those on stage at our New York Forum – but it’s imperative to be prepared.

The Bain- and KKR-backed chain hoped a $1bn financing package would revamp customers’ in-store experience. Could it have rescued the retailer?

Dyal has completed four deals this year, following investments in Vector Capital and Clearlake Capital Group.

Are fears of a lack of red flags in deal structures overblown? There’s little doubt what equity providers think, but some lenders believe the same.

Investors in the continent’s private equity market should be considering other parts of the capital structure, writes Syntaxis Capital’s Africa head.

Private equity managers are building war chests as they prepare for the next market downturn, but there is no telling when that might be.