TITLE

LBO Sponsors are Raising Money, But Buying Wont Be Easy

AUTHOR(S)
Conrad, Lee
PUB. DATE
October 2001
SOURCE
Bank Loan Report;10/1/2001, Vol. 16 Issue 37, pN.PAG
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Threats of a U.S. recession and growing worldwide political and civic instability are affecting the financial services industry and the leveraged buyout (LBO) community is no exception. Coming off three difficult years for investing, LBO sponsors now find themselves in a quandary: they have loads of cash to invest and few places to put it. The big companies, dealing in LBO, are still raising cash and will be in the weeks and months ahead, sources say, because the largest institutional investors are still attracted to the double-digit returns LBO funds can sometimes provide. Blackstone Group Inc., for example, is said to be in the process of closing on a $4 billion- plus fund that was postponed by only a couple of weeks, a market source said.
ACCESSION #
10877943

 

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