LBOs: Wait and see

Far from looking to exploit opportunities in the hung LBO pipeline, some say that patience should be the watchword in this market.

Funds go hungry as distressed trough fails to fill

“There is a very big danger associated with chasing things too hard,” says Ian Cash, managing director at Alchemy Special Opportunities Fund. “Some people have money burning a hole in their pocket and are chasing marginal opportunities – and those marginal opportunities are marginal for a reason.” Another investor agrees. “You can’t push too hard on the market. If it is not yielding up opportunities then you have to back off.

Access intelligence that drives action

To unlock this research, enter your email to log in or enquire about access