Where dislocation funds are looking for deals as pandemic drags on - Business Insider

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Good deals in pandemic-hit companies are proving hard to find. Here's how big investors that raised billions to pounce on corporate distress are changing up their playbooks.

the family-entertainment venue, and luxury department store Neiman Marcus. Then September marked FlyWheel Sports filing for Chapter 7 and October brought Ruby Tuesday filing for Chapter 11.

"Do you buy into a gym right now? A boutique gym? I don't care what price it is; it's probably not worth any price right now," one banker said. To the extent there are opportunities, the middle market is a great place to look, said another private-equity executive. The large cruise lines, airlines, and restaurant chains taking a beating from shutdowns can go to the high-yield loan market for financing, he said. He'll be looking at any leveraged buyouts that took place in 2017, 2018, and 2019, that are highly levered.In May, The Carlyle Group provided a debt financing package to advertising company, Adams Outdoor Advertising.

 

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