News & Analysis as of

Private Equity Lenders

Seward & Kissel LLP

Mayday, Mav’s in Trouble and Missing Linq

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Maverick Gaming, which owns 5 Nevada casinos, files for bankruptcy | The Nevada Independent - The Washington-based casino and card-room operator filed for Chapter 11 bankruptcy in the Southern District of Texas on Monday....more

DLA Piper

Understanding the Impact of MOICs on MFN Provisions in Private Credit Transactions

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The Most Favored Nation (MFN) provision in a loan agreement is a lender protection mechanism that is typically seen in credit facilities permitting an uncommitted incremental facility. The MFN provision, a term originating...more

DLA Piper

2025 Private Credit Technology Summit: Perspectives from the Industry

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Technology’s role in private credit is expanding, with digital tools, data management, and artificial intelligence (AI) reshaping underwriting, portfolio monitoring, and reporting processes....more

DLA Piper

Private Credit Market Trends: Insights From the Debtwire Private Credit Forum

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Several members of DLA Piper’s Private Credit team recently attended the Debtwire Private Credit Forum, which brought together industry participants for in-depth discussions concerning the current landscape and future trends...more

Proskauer - Regulatory & Compliance

House of Lords Launches Inquiry into Growth of UK Private Markets

On 2 July 2025, the House of Lords Financial Services Regulation Committee launched an inquiry into the growth of private markets in the UK....more

Mayer Brown

Crafting Credit Facilities For Defined Contribution Plans

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INTRODUCTION - Over the past 50 years, the retirement landscape has steadily shifted from defined benefit (DB) pension plans to defined contribution (DC) plans. In fact, as of the fourth quarter of 2024, private sector DC...more

King & Spalding

The Evolving Face of Finance: The Rise of Private Credit in Real Estate

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This is our third client briefing in our “Evolving Face of Finance” series which considers private credit’s emergence in the real estate sector in the Middle East and which follows on from our previous client briefing on...more

Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

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On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

Cadwalader, Wickersham & Taft LLP

Debt by Design, June 2025 - Permitted Indebtedness

Before a subscription lender can enter into a subscription credit facility with a fund, the subscription lender will need to review the limited partnership agreement (“LPA”) of such fund to confirm the LPA allows for...more

White & Case LLP

Private credit leans on PIK flexibility in competitive market

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In the face of intensifying competition from the broadly syndicated loan market, private credit lenders are leveraging their ability to provide payment-in-kind flexibility to secure deals - Private credit lenders in the US...more

Mayer Brown Free Writings + Perspectives

BDC Facts & Stats - June 2025

In recent years, non-bank lending to private equity-owned, small- and middle-market companies has increased significantly. Within this growing sector, private and non-traded BDCs have outperformed other non-bank lenders in...more

White & Case LLP

Margin loans come to private markets

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At a time when sponsors are holding onto assets longer than expected, margin loans in private markets are providing a valuable channel of liquidity- Drawn out hold periods and low exit volumes have put liquidity at a...more

Pillsbury - Gravel2Gavel Construction & Real...

Resilience: Unlocking Private Debt for Energy and Infrastructure | Episode 6

In the newest episode of Resilience, Pillsbury’s Shellka Arora-Cox and Brookfield Asset Management’s Brian Callahan discuss one of the most dynamic corners of the energy and infrastructure market: private debt....more

Proskauer Rose LLP

Private Credit Deep Dives – What to do following an Event of Default in a consensual setting (Europe)

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Over the past year, we have seen a significant increase in Events of Default (each, an “EoD”) arising from financial underperformance. This trend is largely driven by the high interest rate and inflationary environment, with...more

White & Case LLP

Delayed-draw facilities: A key differentiator in a competitive market

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Competition between the private credit and broadly syndicated loan (BSL) markets is intensifying, with developments on both sides blurring the distinctions between the two products. One of these distinctive features is the...more

White & Case LLP

Stop right there – intercreditor standstills that grind to a halt

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Standstill periods in private credit intercreditor agreements don't get much attention – they exist to allow senior lenders time to take enforcement action before super senior lenders can step in. But if you're not careful,...more

Mayer Brown

Advantages of Express LPA Third-Party Beneficiary Provisions for Subscription Credit Facility Lenders

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An express third-party beneficiary provision running in favor of a lender in a fund’s limited partnership agreement (an “LPA”) is helpful for subscription credit facilities. It bolsters the rights and remedies of a...more

Fox Rothschild LLP

Franchise Times Dealmakers Predict Cloudy Forecast for Franchise M&A in 2025

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Last month, Franchise Times held its annual “Dealmakers Week” where it offers a series of webinars with top franchise dealmakers to discuss the year’s biggest franchise deals and industry trends. The week included a...more

Seward & Kissel LLP

Exacting Revenge, Best and Final, and Out At Home?

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Implant maker Exactech may conclude bankruptcy without TPG settlement | Reuters - Medical implant maker Exactech adjourned its Chapter 11 plan confirmation hearing on Wednesday, delaying proceedings that would have...more

McDermott Will & Emery

Key Takeaways | How I Learned To Stop Worrying and Love Choppy Waters

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During this session, panelists that focus on special situations and distressed debt in various sectors provided their insights on the current state of the financial market, recent restructuring trends, and tools to implement...more

McDermott Will & Emery

Key Takeaways | Deploying Sponsor Capital: Tactical Financing Moves for Portfolio Companies

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During this session, the panelists explored whether portfolio company support should come from the sponsor or lenders when portfolio companies require additional funding. They discussed when to deploy sponsor-backed financing...more

McDermott Will & Emery

Key Takeaways | Sponsor-Led Syndications: How To Get From a Grid to a Club

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During this session, the panelists discussed key considerations for selecting and managing lenders ahead of participating in a debt syndicate, including how to evaluate potential lenders, compare key terms, and choose club...more

White & Case LLP

Key Insights from the LSTA and DealCatalyst 4th Annual Private Credit Industry Conference on Direct Lending

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On May 12 and 13 2025, the Loan Syndications and Trading Associations held its fourth annual private credit industry conference in Nashville, Tennessee—the speakers of which included industry professionals from direct lending...more

A&O Shearman

Navigating private credit in the Middle East

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The continued growth and diversification of the regional economies, coupled with significant advancements in the legal frameworks, have made the United Arab Emirates and the Kingdom of Saudi Arabia increasingly attractive...more

McGuireWoods LLP

Insights From the 21st Annual McGuireWoods Healthcare Private Equity and Finance Conference: Part 1

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McGuireWoods held its 21st Annual Healthcare Private Equity and Finance Conference in Chicago, May 13-15, 2025. This premier conference brought together leading healthcare investors, lenders, executives, consultants and...more

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