The future of private debt: Hybrid strategies

More managers are going further down the capital structure in the search for yield. Does the strategy have broader appeal or will it remain a niche play?

In August 2017, TLC Marketing Worldwide, a 400-strong multi- national promotional agency for global consumer brands, received its own tender loving financial care from specialist debt provider Prefequity.

“TLC is a very good example of the kind of company we support,” says Theo Dickens, managing partner of London-based . “It’s owned by two founder- managers who need fresh capital to fund growth, but are reluctant to give up a lot of equity and control to a private equity firm.”

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