Over recent years, a prolonged period of low interest rates, together with a competitive financing market, has resulted in greater leverage and control for private companies (and their sponsors) when it comes to negotiating...more
As private credit continues its rise as a key source of flexible capital for traditional private equity, there has been a growing focus by credit funds on the use and role of side letters in financing transactions. In many...more
As a result of a combination of well documented macro-economic factors, new money financings backing traditional private equity (PE) activity has stalled so far in 2023. With a vast amount of PE capital at the ready,...more