Private Equity Digest (October 2023)

Many private equity sponsors and their portfolio companies have begun to consider capital structure solutions to delever as their debt is expected to mature in this high interest rate environment. In this article, we focus on one such solution: the issuance of preferred equity to third parties. In market news, after a slow start to the year for global and U.S. sponsor-backed M&A, total deal values have been consistent with those seen in the latter half of 2022, however, the number of deals has seen a general decline since the fourth quarter of 2022.

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