UK: PE-owned firms strain as loans lose value

Private equity firms are facing more portfolio challenges in Europe as retail and cyclical companies remain under pressure, but BC Partners has more than its share of problem credits that are attracting attention from distressed investors.

The secondary loan value of some European companies owned by BC Partners have fallen heavily since the start of the year, although the private equity firm’s overall returns are supported by some big wins.

“There are some tricky leveraged loans out there for most sponsors but BC Partners seem to have a disproportional amount,” a head of capital markets banking said.

London-based BC Partners specialises in buyouts and acquisition financing in upper-middle market European and US companies and is looking to raise a new flagship multi-billion pound fund next year.

Read the full article at Reuters (Claire Ruckin)

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