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Banks Are Out, Investors Are In for Buyout Firms Seeking Funding

By Tony Seruga

Investors offer higher rates but more cost certainty for LBOs
Funds raised $85 billion for private debt, most since ’08

The world’s biggest underwriters are on the outs with private equity firms looking for help to fund big acquisitions.

Leonard Green & Partners is the latest buyout shop to enlist nonbanks for help in financing deals. The firm is tapping a group of funds, including Los Angeles-based Crescent Capital Group, for its $2.2 billion purchase of medical test company ExamWorks Group Inc., according to people with knowledge of the matter…

Banks Are Out, Investors Are In for Buyout Firms Seeking Funding

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