Investment Banking

"With interest rates where they currently are and other investment opportunities less attractive in the current environment, investors are putting their cash in a product that guarantees their money back," says Reed Smith partner Ari Edelman in this Q&A.

BC Partners, which just three years earlier had saddled PetSmart with billions of dollars of debt to acquire Chewy, approached investors with a simple pitch: focus on services, such as grooming and training, that made the business resilient to online competitors.

ConocoPhillips buys Concho. Intel divests Nand. Jordan Co. acquires Potters.

The deal for Crescent comes as many companies are struggling to stay alive through the coronavirus pandemic, and are turning to alternative lenders for money they can’t get from banks.

The rule requires that 20 of the biggest U.S. lenders be able to rely on stable funding sources, such as long-term debt and customers’ deposits, in the event of a year long liquidity drought.