Once-in-a-Generation Chemicals Crisis Upends Private Equity Firm’s Bet
A yearslong downturn in the sector has weighed heavily on SK Capital’s returns
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Welcome to The Brink. I’m Giulia Morpurgo, reporting from London, where I looked at SK Capital, one of the biggest victims of a yearslong downturn in the chemicals sector. We also have news on Trinseo, Vista Land and Venezuela’s massive debt restructuring. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
The chemicals industry has been mired in what analysts describe as a “once-in-a-generation” downturn since the second half of 2022, with Russia’s invasion of Ukraine triggering an energy shock just as China flooded global markets with cheaper products.