The PE auction in times of exit scarcity

In a market rife with uncertainty, many sponsors are shifting
their focus from exiting companies via structured, broad auction
processes, instead preferring to hold more direct, bilateral
negotiations with credible parties to secure deals.


Meanwhile, the lack of availability of debt has driven some
sponsors to do all-equity deals with a plan to seek financing
later, or to take on a co-investor at the outset to reduce their
equity exposure to an asset.


Rachel Lewis and Harriet Matthews explore examples of this trend
and discuss how GPs are getting creative on exits and
investments.


1:04 – Review/preview


1:54 – Changing auction dynamics


3:33 – Bilaterals are back


4:57 – Underwriting woes


6:51 – Getting creative


12:19 – Light at the end of the tunnel?


Click the following link to read more about this topic on
Unquote.com:
https://www.unquote.com/unquote/analysis/3028497/going-going-not-gone-pe-auctions-bid-for-relevance-in-risk-off-market


You can listen to the podcast in the audio player above, as well
as your favourite podcasting platforms, including Spotify and
Apple Podcasts.


Theme music: 2012 Kick Up The Fire