TheLeadLeft

The Art of the Add-On (Fourth of a Series)

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Last week we began a check-list sponsors tick off when sifting through acquisition candidates for their platform companies. Many items are company and sector-specific. How will product lines complement each other? Will different brands confuse customers? If so, can you benefit from synergies by maintaining separate identities? But one private equity partner highlighted the most…

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Private Debt Intelligence - 11/14/2016

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Europe- and North America-Focused Real Estate Debt Funds

Real estate debt has seen considerable growth within European markets over the past few years and fundraising grew significantly from €0.5bn in 2012 to €4.3bn in 2015, while a further €3.7bn has already been secured in 2016 YTD. Nonetheless, North America-focused fundraising still dwarfs that of Europe, with funds already raising a record €12.3bn in 2016...

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Lead Left Interview - Tom Cassidy (Part 2)

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This week we chat with Tom Cassidy, Managing Director, US Bank. Mr. Cassidy is responsible for private equity Sponsor Finance Group originations and has been in the leveraged finance world for over thirty years. Before US Bank, he worked at JP Morgan Chase and at BNP Paribas. Second of two parts – View part one The Lead…

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Leveraged Loan Insight & Analysis -11/7/2016

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Downward flexes dominated in October

Downward flexes continued to dominate flex activity in October. There were 21 downward price flexes on first-lien institutional term loans in October and only 8 upward flexes. Both downward and upward price flexes were down from September which recorded 28 price cuts and 12 upward price revisions...

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Lead Left Interview - Tom Cassidy

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This week we chat with Tom Cassidy, Managing Director, US Bank. Mr. Cassidy is responsible for private equity Sponsor Finance Group originations and has been in the leveraged finance world for over thirty years. Before US Bank, he worked at JP Morgan Chase and at BNP Paribas. The Lead Left:  Tom, you’ve had over three…

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Private Credit Comes of Age

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At a loan conference some years ago we referred to middle market loans as the Rodney Dangerfield of capital markets. These small, illiquid instruments were the poor step-child to high-yield bonds and large leveraged loans. But at Creditflux’s inaugural New York conference on private credit this past June, it was clear the situation has changed….

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