Exploring Private Credit Usage and Support Strategies for Portfolio Companies

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This chapter explores how portfolio companies have been leveraging private credit over traditional syndicated markets, emphasizing the customization of capital structure to suit their investment strategies. It also delves into how private credit benefits business platforms, refinancing strategies, and the support extended to companies during crises such as the COVID-19 pandemic and the war in Ukraine.

The question on everyone’s lips these days seems to be: are you going BSL, or are you going direct? But when private equity sponsors are building out their portfolio companies’ capital structures, their first concern is often whether the instruments they’re employing are a fit for the business at hand.

In this week’s Cloud 9fin episode, 9fin senior reporter Bianca Boorer sits down with David Leland, partner and head of capital markets at BC Partners, to discuss the recent refinancing wave, managing portfolio companies through crises, and how to determine the right blend of private credit and leveraged loans for a portfolio company.