Navigating Distress: Liability Management in the Post-COVID Market

"If you've got [a company] that just doesn't have a logical strategic long-term owner or the industry's consolidated in a way that nobody can regulatorily do it, you're buying into a problem...And so we try to be very thoughtful about that coming in. And sometimes that means you can't do a deal. Sometimes that means you have to do it even cheaper to account for a discount on the backend too."David Geenberg, Head of Strategic Value Partners' North American Investment Team, explained to BI's Noel Hebert and Phil Brendel why contemplating exit strategies up front is part of SVP's investment process. Geenberg detailed how SVP's global investment team blends complementing skill sets to help it tackle all facets of its portfolio companies' investment cycle, including sourcing paper, restructuring, litigation, identifying corporate leaders, M&A, and strategic planning (6:25). Prior to that, BI's Noel Hebert and Phil discussed the return of risk appetite in May as tariffs were reeled back. The podcast concludes with BI's Negisa Balluku joining them for a roundtable discussion on Hertz, Serta, Azul, Sunnova, and WeightWatchers (1:12:45).