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VP_Spiro_T_CheneyPrivate equity bubble implodes: Time for a haircut!
Could have been worse, although the 20-35% hit on the remaining NAV has to be added to the writedowns they’ve already had… probably adds up to a 50+% overall loss.
“ Activist investor Boaz Weinstein’s Saba Capital and Cox Capital Partners offered to buy stakes in three private credit funds operated by Blue Owl Capital Corporation (OWL), sending shares of the private equity firm higher in the post-market trading on Friday.
In a press release, Saba Capital and Cox Capital announced on Friday that they sent a notice to Blue Owl Capital Corporation II (OBDC II) on Feb. 17 about their intention to commence a tender offer to buy shares at 20% to 35% below their net asset value.
The semi-liquid private credit fund, marketed to U.S. retail investors, permanently halted redemptions earlier this week, sparking concerns about systemic risks in the private credit market.”
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Tom LeykisRe: Private equity bubble implodes: Time for a haircut!
OFFSHORE equity is where it's at!!!
In the last few years, PYE-BARKER has been buying up American alarm companies as fast as they can. They're now bigger than ADT ever was.
WHO is financing this? Shell investment firms, owned by the Emirate of DUBAI! What is our military going to say about this when they find out who is doing the security for our armories? We have A LOT, by the way......
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VP_Spiro_T_CheneyRe: Private equity bubble implodes: Time for a haircut!
Tom Leykis wrote:
OFFSHORE equity is where it's at!!!
In the last few years, PYE-BARKER has been buying up American alarm companies as fast as they can. They're now bigger than ADT ever was.
WHO is financing this? Shell investment firms, owned by the Emirate of DUBAI! What is our military going to say about this when they find out who is doing the security for our armories? We have A LOT, by the way......
They’ve already bought the White House (real estate/golf course deal, $800M luxury Boeing 747, $2B “investment” with Jared Kushner, hundreds of millions in $Trump crypto) so fire alarms on armories are a lesser problem.
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