Cloud 9fin

Tailoring to the thesis with David Leland of BC Partners

Mar 28, 2024

In this episode, David Leland from BC Partners discusses tailoring capital structures for portfolio companies in sectors like TMT and healthcare. Topics include proactive refinancing strategies, private credit usage, business restructuring, and navigating investments across jurisdictions.

12:30

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Episode guests

David Leland

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Quick takeaways

BC Partners emphasizes tailoring capital structures to suit portfolio businesses' needs.

Operational support during crises and proactive refinancing optimize BC Partners' portfolio performance.

Deep dives

BC Partners Investment Strategy and Refinancing Approach

BC Partners invests across sectors like TMT, healthcare, industrials, and consumer retail but has limited appetite for the latter in their current fund. They take a proactive approach to refinancing, using equity when necessary. With expectations of declining interest rates, they have been active in refinancing and repricing their portfolio credits to optimize duration and cost of capital.

Intro

2min

Proactive Refinancing Strategies and Portfolio Optimization in Response to Rising Interest Rates

3min

Exploring Private Credit Usage and Support Strategies for Portfolio Companies

2min

Navigating Business Restructuring and Transitioning in Portfolio Companies

2min

Discussion on hold periods for investments and considerations when investing across different jurisdictions

4min

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.

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Cloud 9fin

Tailoring to the thesis with David Leland of BC Partners

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

BC Partners Investment Strategy and Refinancing Approach

Utilization of Private Credit and Operational Support

Hold Periods and International Investments

Remember Everything You Learn from Podcasts