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A decline in large-scale LBOs has left lenders with excess cash and encouraged PE firms to pursue smaller deals that can be tucked into existing portfolio companies.
Firms in this booming $1.5 trillion market typically lend at a floating rate, meaning fund managers get much higher yields from borrowers as base rates soar.
October 5, 2023
There’s no such thing as a “typical” M&A process anymore, says Golub Capital’s Michael Loehrke in an interview at ACG’s InterGrowth 2017.