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...Fintyre’s collapse less than a year later came as a surprise to lenders, which typically have the chance to provide rescue financing to keep a company that runs into trouble afloat and take the keys....
...Private credit funds such as Blue Owl, HPS, Ares, Blackstone and Sixth Street have stepped in to fill the gap for borrowers. In return, they have been paid handsomely....
...The financing package for Cotiviti, which would be accompanied by a $1bn investment in preferred shares, is one of several large private loans being discussed, according to executives in the private capital...
...Bae added: “Valuations are reasonably robust for exits and the financing markets are coming back. We have a lot of activity in flight.”...
...Besides credit card debts, Blackstone has picked up home improvement loans, auto loans and loans financing rooftop solar power....
...This year at least six partnerships with major banks have been signed, most recently Barclays with Blackstone. Half of these have focused on opportunities in asset-backed financing....
...Blackstone’s ability to clinch the financing package underscores how big credit investors are comfortable with the risks in this opaque but rapidly growing corner of financial markets, even as higher interest...
...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....
...“Valuations are reasonably robust for exits and the financing markets are coming back,” added Bae. “We have a lot of activity in flight.”...
...Since Adevinta confirmed it had received an interest from the buyout consortium in September, conflict in the Middle East has erupted and interest rates have remained high, making the cost of financing a...
...As its workers scrub butchery equipment, they have sometimes suffered injuries that include acid burns from cleaning agents and even, in a few cases, amputation....
...“The recent upsizing of Concord’s asset-backed securitisation is a great example and we expect to do more financings where we can lend against valuable assets at attractive costs of capital for music and...
...The impact of higher interest rates on the cost of financing takeovers coupled with economic uncertainty has weighed on dealmaking this year and prompted some regulators to warn of the potential impact on...
...begun to position themselves as an alternative to the traditional banking system, possessing the capacity to make large multibillion-dollar corporate loans and to originate securitised assets like rental equipment...
...Blackstone and Apollo declined to comment....
...A private equity buyer of assets that applies generous debt financing can do well in such circumstances....
...For now, expanding the lists of potential debt buyers has occurred late in troubled financings....
...PE giants Blackstone and KKR are also in the process of raising new flagship funds....
...Given the sums of capital it can wield, private equity could be critical to financing everything from clean energy infrastructure to workforce development....
...Some firms, such as Apollo, Blackstone and Sixth Street, dropped out of the financing altogether because of concerns about the strength of the lender protections in the documentation, according to people...
...Blackstone noted that regional banks were important intermediaries for autos, home improvement and equipment, and potential sources of funds....
...Alternative asset managers such as Apollo, KKR and Blackstone are increasingly financing blue-chip companies, as businesses look for new sources of capital to help counteract the effects of higher interest...
...AT&T, PayPal and Air France-KLM are among the companies that have in recent months turned to the growing private credit industry for financing....
...Insurers controlled by private equity groups gain access to private debt through financing for leveraged buyouts. Others invest in private debt funds....
...At the Spring Place private members club in Manhattan, Blackstone said the unfolding financial crisis could bolster Breit’s earnings because it would constrain bank financing for new real estate construction...
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