Private Equity
As the euro zone crisis eases to a dull, chronic economic ache, U.S. distress investors are beginning to look across the Atlantic for business opportunities. Lone Star Funds, the Dallas-based buyout shop with a fresh $5 billion of dry powder, has done a series of deals with banks on the Continent in an apparent bet that the worst is past and Europe’s troubled financial sector is poised to recover.
6 min read · 30 May 2013
Babson Capital Management is consolidating five of its mid-market lending unit into a single organization, paving the way for the company to build out a new suite of products for investors, such as customized accounts and commingled funds.
2 min read · 28 May 2013
Legislation that would ease leverage constraints on business development companies has started a rare public controversy within the BDC community, a group that lends to sponsor-backed businesses with annual revenue of less than $500 million.
3 min read · 28 May 2013
It was one of the biggest buyout funds ever raised, it backed some of the largest LBOs, and it was part of the vintage 2006 that had to contend both with a financial crisis and the Great Recession. Nevertheless Kohlberg Kravis Roberts & Co. appears to be on a reasonably successful track with KKR 2006 Fund LP as it continues the harvest phase.
7 min read · 20 May 2013
2 min read · 20 May 2013
North American buyout shops raised $2.2 billion in investor commitments in mid-May, bringing the total for the year to $33.8 billion for buyout and mezzanine funds. At this point last year, firms had raised $63.8 billion for new funds.
1 min read · 20 May 2013
A company that conducts a dividend recap and then defaults on its debt fares no worse for its creditors than a company that defaults without a recap, Moody’s Investors Service Inc. reported.
2 min read · 14 May 2013
2 min read · 06 May 2013
U.S. buyout shops added $3.9 billion to the year’s fundraising tally during the latter part of April, bringing the year’s total of buyout and mezzanine funds to $31.5 billion.
1 min read · 06 May 2013
The dozen most active sponsors, measured by number of bond deals done by their portfolio companies, are more effective at enticing lenders to accept less restrictive covenants on portfolio company bonds, Moody’s Investors Service Inc. said.
2 min read · 30 April 2013
