Publications

Distressed M&A

Lots of Distress and Not Much M&A, But Some Interesting Opportunities for Creative Private Equity Dealmakers

As anyone from Main Street to Wall Street might observe, something seems very different about this economic downturn and the resulting fallout not only for distressed businesses but for the private investment community as well. The almost absolute freeze in the credit markets and the unwillingness of even those traditional “lenders of last resort” to make available acquisition financing—on any terms, much less terms that investors find remotely attractive for generating suitable returns—represents this recession’s defining characteristic for private equity investors and has made deal-making in the current economic environment exceedingly difficult.

View Full Publication