Private Lenders Provide Record €4.5 Billion for Adevinta LBO
- CPPIB, Blackstone and GIC are among the top-tier lenders
- Unitranche tops $4.8 billion loan for software maker Finastra
Adevinta offices in Paris.
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Private credit funds are providing a record €4.5 billion ($4.9 billion) loan to back the buyout of Adevinta ASA, marking the latest win for a market that’s increasingly become the go-to funding source for private equity firms.
The Canada Pension Plan Investment Board, Blackstone Inc.’s credit unit and Singaporean sovereign wealth fund GIC are among the biggest lenders in the deal, people with knowledge of the matter said. Intermediate Capital Group Plc., Arcmont Asset Management, Sixth Street Partners, and the asset management arm of Goldman Sachs Group Inc. are also top-tier participants, the people said, asking not to be named because the information is private.