private debt

The transaction fits a broader trend of companies abandoning traditional bank or leveraged‐loan financing in favor of private credit lenders.

The deal underscores private credit’s growing role in large-cap software buyouts.

KKR is also planning to opt for private credit for another recent purchase, Finland-based software company Accountor.

The Chicago-based firm employs a fluid investment strategy that includes buyouts, minority investments and debt placements.

The status quo has been upended by high rates, a boon for private credit funds which mostly offer floating rate debt and can still get cash through regular interest payments.