FundFire: Buyout Fund Refinancing Crunch Looms, But Credit Managers Craft Fixes

  • More portfolio companies are facing deadlines to refinance the low-cost debt they took out years ago, and many are turning to uncommon offerings from private debt managers.
  • The backdrop also gives credit managers ample leeway to decide who they will finance, said Jeff Abrams, group head of private credit at ORIX USA.
  • “We believe the capital deployment opportunity created by the current environment is large enough to pick the spots we want on terms we are comfortable with in terms of meeting financing needs,” he said in an email.

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