A private credit practitioner would have found no better place to spend this week than at the SuperReturn North America Virtual conference. Your correspondent was honored to chair day one, moderate two lender panels and participate in a third. Our role also gave us a front row seat to hear GPs and LPs describe at
“October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February.” Mark Twain’s famous dictum on investing came to mind as we watched recent choppiness in public markets. With the waning weeks of summer passing and an uncertain
Over the past five months, we’ve dedicated this space to examining the impact of COVID-19 on the economy and the markets. We’ve also spent time interviewing top private equity and investment banking partners on the state of deal making in the U.S. What has gotten largely lost in other media reporting on the capital markets
The question investors of all stripes face today is, what is the “new normal” for businesses? Unfortunately, as a recent Accenture study notes [link], “normal isn’t available to us anymore.” In the absence of normality, sponsors and lenders are adapting. “We historically focused on six sectors,” the partner of a top middle market private equity
The challenges of COVID are making financing deals even trickier than normal. Top M&A bankers we have spoken with gave us their perspectives on what sellers and buyers should expect given all the uncertainty. “There are a lot of twists and turns today,” a mid-West managing director told us. “You may think the company you’re
As we discussed last week in our special series on the new COVID-impacted M&A world, the volume of deal flow was off sharply at the onset of the crisis. But as deal makers adjusted to the new normal of business openings (and reversed openings) across the country, conversations are now back to deal processes. What
This week we kick off a new series on COVID-impacted deal flow, with a look “upriver.” How has M&A activity been affected, and what should deal makers expect for the “new normal?” We spoke to select middle market investment banks about their experiences so far in this coronavirus season. The beginning of the crisis caught
We continue our special series on COVID-19 impacted healthcare, with a private equity conversation. Our guest is the partner of a NY-based firm. He has over two decades of experience investing in healthcare businesses. How did the current crisis unfold for you and your firm? “For the first couple of weeks it was a 100%
Two years ago, we issued a special report on healthcare trends, speaking with bankers, lenders, and private equity investors [link]. Last week we revisited one of our sources, a top healthcare investor, on the current state of affairs in the industry. “Everyone’s an infectious disease expert now,” he told us in an interview. “We also
We continue our special series on how the coronavirus is affecting the healthcare industry. At the heart of this pandemic is the doctor/patient relationship. Much has been written about heroic efforts by first-responders in the early days of the crisis. Information gleaned on the front-line by those experiences has contributed greatly to a better understanding