IN THE UK, where the hostility of fund managers to public-to-private (PTP) deals led by private-equity houses is most pronounced, several banks are working on structures to enable fund managers to participate profitably in such deals. One such structure, using convertible unsecured loan stock (Culs) listed on London junior equity market AIM, is arousing particular excitement.
The Culs structure was developed by Kinmont, a corporate finance advisory boutique, with Travers Smith Braithwaite, a 200-year-old City of London law firm.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
