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...Other recent partner-level exits include Solomon’s longtime lieutenant, Jim Esposito, Beth Hammack, co-head of the bank’s financing group and the former head of its consumer and wealth division Stephanie...
...The cash from New Mountain, together with some debt financing, will be used to return capital to current partners, buy out retirement obligations to former partners and build a war chest for investment,...
...Financing costs also rose 44 per cent to £18.8mn, with Nimmo saying “investment has required some additional facilities to be used”....
...In their hunt for financing, many tiny firms have also turned to convertible debt deals — under which they borrow from a lender who has the option of being repaid in cash or new shares....
...There will also be an undisclosed amount of debt financing provided by a group of private lenders including Blackstone Credit, HPS Investment Partners and Blue Owl Capital....
...The deal reflects how private equity has sought to gain broad exposure to the sports world, taking ownership stakes in clubs and leagues and financing media platforms, new stadium projects and broad ecommerce...
...The significant financing suggests Nord Security is an outlier compared with other technology companies that have dropped in value over the past year amid a broader slowdown in venture capital markets....
...Paramount questioned the financing of Apollo’s bid and refused to engage with the New York-based private equity group. The New York Times first reported the talks between Sony and Apollo....
...UBS said the new arrangement with Apollo — which included the transfer of $8bn of senior secured financing facilities — would result in a $300mn net gain for the bank....
...It has expanded into areas such as invoice financing and credit cards, and acquired a business that connects customers with professional contractors....
...The documents also claim that the Qatari suitor failed to provide “customary financing commitment letters”, raising questions about how viable the offer really was....
...The company’s lawyers told a bankruptcy judge that WeWork was running out of money, in need of new financing, and that its efforts to restructure leases were progressing slowly....
...“In order for that sector to survive, it is going to need access to financing and the path to financing is through debt restructuring, not liquidations.”...
...Certain areas of lending where the regional banks used to be active — asset-backed finance, some types of small business financing, consumer lending — they’re no longer active in....
...But banks led by JPMorgan Chase lobbied hard to underwrite a financing over the past four months as a new deal moved closer to the finish line....
...In 2014 Burger King, soon to be renamed Restaurant Brands International, bought Canada’s beloved Tim Hortons for nearly $12bn, including $3bn of financing from Warren Buffett’s Berkshire Hathaway....
...Edward Finley of Arrow Wealth Advisory LLC pointed out that from a certain point of view, the question “does private credit, as an asset class, generate excess return” is a sort of category mistake: An...
...Private equity conflict Private equity firms are increasingly providing debt financing to companies they own, making them both owner and lender to businesses in their portfolios....
...But in the frantic weeks leading up to the bankruptcy, no superior rival financing offer had materialised....
...Investors have had limited bond and loan financings to entertain this year....
...Limited partners are scrutinising the industry’s use of complex financial engineering, like margin loans and net asset value financings, to extract cash from their investments, DD’s Antoine Gara and Will...
...These include so-called net asset value financing, which involves a buyout firm borrowing against a portfolio of assets....
...Firms such as Vista have turned to so-called net asset value financing to recapitalise companies like Finastra that have been struggling to refinance their debts, or by groups like Hg Capital to pay dividends...
...securing that loan against a larger pool of fund assets, buyout shops like Vista are able to uncover cash and negotiate lower borrowing costs than would otherwise be possible if the portfolio company sought financing...
...Silver Lake arranged a large equity cheque to get the takeover done without requiring heavy debt financing. Silver Lake and its investors committed about $9bn in cash to fund the buyout....
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