Since the credit crisis, alternative lending companies have come roaring back into favor. With banks continuously facing harsher regulatory requirements, they have become more apprehensive to lend. Alternative lending companies have stepped in to fill the void and are actively looking for ways to work with traditional banks going forward. Mergers & Acquisitions convened a special roundtable co-sponsored by Fifth Street Management LLC and Proskauer Rose LLP to explore the symbiotic relationship between traditional banks and alternative lenders. Below is an excerpted version of the conversation. (For video interviews of the roundtable participants, visit the Mergers & Acquisitions video page.)
Roundtable participants (in alphabetical order): Eric Bacon, co-president, Linsalata Capital Partners; Stephen Boyko, partner, Proskauer Rose LLP; Frederick Buffone, managing director, Fifth Street Management; Gary Creem, partner, Proskauer Rose LLP; Scott Cullerton, director, KKR Asset Management, KKR & Co. LP; Steven Friedman, managing director, Greenhill & Co.; Patrick Frisch, managing director, ING Capital; Danielle Fugazy, moderator, Mergers & Acquistions;Ted Goldthorpe, president, Apollo Investment Corp.; Thomas Hall, director, Credit Suisse; Meghan Neenan, senior director, Fitch Ratings; Robyn Roof, managing director, KeyBanc Capital Markets, KeyBanc; Len Tannenbaum, CEO, Fifth Street Management.