When European issuers default on high yield debt, bondholders' claims may be worth very little.
News: Funds 2002-02-01 Staff Writer <b>€2bn Advent fund to focus On Europe</b><br />Advent International intends to invest 70 per cent of Global Private Equity IV, its new €2bn buyout fund, in Western Europe, with the balance going to North America and Asia.<br /><br />?Europe i
Around E360m have already been raised for the new vehicle, which is expected to close at E450m at the start of 2002.
Gary Klesch, founder of the eponymous investment boutique, says distressed assets in Europe have mushroomed, already adding up to a $150bn investment opportunity.
The $50M German corporate venture operation is looking to bolster the logistics services of its parent business Deutsche Post World Net.
Buy-out financiers are turning to mezzanine providers as high yield issuance and bank lending dry up, study says.
The rating agency has launched a CDO performance assessment programme in a move welcomed by CDO managers.
Up to 80 per cent of the economic capital put into an LBO doesn't come from private equity funds: it is provided by banks as debt. Given the pivotal role leverage has to play, what's the present state of the leveraged finance market? Robin Burnett reports.
US buyout firms are cash rich and pricing looks sweet, but unless the debt markets reopen, dealmaking will remain slow, writes David Snow in New York.
Private Equity International's deal mechanic takes a look under the bonnet of the buyout of Yell, a deal that may yet emerge as European LBO of the year.