The only comparable event to the spread of the virus for modern private capital markets is the Great Recession, but there are some key differences this time.
Market participants embrace best practice guidance, adjust policies accordingly. But the AICPA’s best practices are not without challenges and intricacies for the private debt and private credit professional.
Several factors, including the rights and preferences of the rollover equity compared to the private equity sponsor’s shares and the sources of deal financing, have important implications for valuation.
Summary of key Q3 2019 metrics for the PE deal environment, including median PE buyout EV/EBITDA multiples.