I find @matthewstoller’s tweets to be biased but I enjoyed reading this (I skimmed some parts)
https://twitter.com/barbariancap/status/1251998323634036743?s=21 …https://twitter.com/BarbarianCap/status/1251998323634036743 …
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Is this a fair depiction of what Sycamore did with their Staples buyout (good luck making that happen haha)?pic.twitter.com/B6KEQ5BkaU
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My friend in PE says yes though not all PE firms are like this. https://twitter.com/molson_hart/status/1254211249182818304?s=21 …https://twitter.com/Molson_Hart/status/1254211249182818304 …
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I've never really understood the criticism of PE firms that do this. Investors putting up $5B+ are big boys, they can demand any covenants they want and refuse to invest otherwise (which does happen - see wework) Why second guess structure of deals?
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If you own a company you can do anything you want with it financially, subject only to restraints from creditors. If the creditors aren't complaining why complain on their behalf?
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