The Equity Terminus | What Spanx's Quiet Sale to HPS / BlackRock Reveals about Private Credit Cycle

A shapewear brand changing hands looks like a footnote. Read the terms, and it becomes a map of how the largest pool of private capital ever assembled resolves its losing bets.

#PrivateCredit, #LoanToOwn, #DebtToEquity, #Spanx, #HPS, #BlackRock, #DistressedCredit, #DirectLending, #BDC, #Skims, #ConsumerBrands, #PrivateEquity, #CapitalMarkets, #CapitalInsights, #FundamentalsThroughTheNoise, #PunjabCapitalResearch

Previous
Previous

How the IPO Lock-Up Quietly Stopped Protecting the Public Buyer

Next
Next

The Twin & the Wrapper | What DTCC's Tokenization Pilot Settles About Ownership