Over the past five months, we’ve examined the impact of COVID-19 on the economy and the markets and interviewed top private equity and investment banking partners on deal making in the U.S. What’s largely lost in media reporting is the dramatic turn in private credit. This asset class emerged from Great Recession to become one […]
Investors are asking, what is the “new normal” for businesses? Unfortunately, as a recent Accenture study notes, “normal isn’t available to us anymore.” In the absence of normality, sponsors and lenders are adapting. “We historically focused on six sectors,” one PE partner told us. “COVID swept two away, leaving four. We’re still getting books on […]
Financing companies in a COVID environment is as challenging as buying and selling them. Top M&A bankers gave us their list of do’s and don’ts. “There are a lot of twists and turns today,” a mid-West MD told us. “You may think the company you’re trying to sell is operating at pre-COVID levels, but what […]
As deal makers have adjusted to the new normal of business openings (and re-closings) across the country, conversations are now back to M&A processes. How has the pandemic affected deal timelines? “The time to market will inevitably elongate,” one top middle market banker told us. “Buyers and sellers will need more preparation to assess the […]
This week we kick off a new series on COVID-impacted deal flow, with a look “upriver.” How has M&A activity been affected, and what should deal makers expect for the “new normal?” We interviewed top middle market investment banks about their experiences so far in this coronavirus season. The beginning of the crisis caught advisory […]
As part of our special healthcare series we spoke with the partner of a NY-based private equity firm. He has two decades of experience investing in healthcare businesses. We asked how the current crisis unfolded for your firm? “For the first couple weeks it was 100% focus on the portfolio,” he told us. “Turned out […]
Two years ago, we issued a special report on healthcare trends. We recently revisited one of our sources, a top healthcare investor. “Everyone’s an infectious disease expert now,” he told us in an interview. “We need to change the way we look at infection. There are about 40,000 deaths annually from the seasonal flu. It […]
We continue our special healthcare series with the heart of the matter: the doctor/patient relationship. We asked our primary physician in a Zoom interview about his experience. “Thank goodness for telemedicine,” he told us. “I can be very effective and have meaningful discussions with my patients. A lot of these now involve testing for the […]
Healthcare has been ground zero for the worst pandemic of the modern era. How the industry has reacted and how credit and equity providers are dealing with this new world order, is the subject of our new special series. “Physician practice management companies were the first and worst hit,” one banker reported. “Procedure volume dropped […]
“Time to go to cash,” we announced recently at the dinner table. The Dow had almost climbed back to its February 12 peak. “What does that mean?” our six-year old daughter asked. Her mother replied, “It means Daddy wants to put our money in a mattress.” Unfortunately more pressing matters – like whether to give […]