Skip to content
Subscriber Only

Banks Are Out, Investors Are In for Buyout Firms Seeking Funding

  • Investors offer higher rates but more cost certainty for LBOs
  • Funds raised $85 billion for private debt, most since '08

The world’s biggest underwriters are on the outs with private equity firms looking for help to fund big acquisitions.

Leonard Green & Partners is the latest buyout shop to enlist nonbanks for help in financing deals. The firm is tapping a group of funds, including Los Angeles-based Crescent Capital Group, for its $2.2 billion purchase of medical test company ExamWorks Group Inc., according to people with knowledge of the matter.