Aug
12
Private-equity firms have long been some of the biggest owners of companies. Now they are vying to become some of their biggest lenders.
Fueled by an influx of cash from yield-hungry investors, firms historically devoted to buyouts are now financing deals banks won’t. Nonbanks—many private-equity firms—held more than half a trillion dollars worth of loans to midsize companies at the end of 2017, up from roughly $300 billion in 2012, according to estimates by private-equity firm Ares Management LP…
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