Keeping a close eye on downside protection

Randy Schwimmer, a senior managing director with Churchill Asset Management, gives his perspective on downside protection in the evolving mid-market deal space.

This article is sponsored by Churchill Asset Management.

How much does the mid-market space differ between Europe and North America?

Everyone has their own definition of the middle market. Even data reporting agencies who have worked in the industry for decades, have slightly different interpretations – some focus on borrower EBITDA as the determining factor; while others categorise by facility size or revenues.

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