November 2, 2022 - This week, Elliot Ganz, the LSTA’s Head of Advocacy, joined Dan Kamensky, founder of the Creditor Rights Coalition to teach a session of Professor Elisabeth de Fontenay’s Duke Law School class on Private Equity and Hedge Funds.  The class covered the long, symbiotic relationship between the institutional leveraged loan market and private equity.  The class began with a description of the evolution of the loan market from a relational one dominated by banks to a largely institutional, transactional market and considered the important ramifications of those changes.  The class used the Caesar’s and Neiman Marcus bankruptcies to illustrate some of the tensions and conflicts in the relationship between private equity funds and institutional lenders in times of distress and what changes in law and practice could be helpful in navigating these challenges.  The materials for the class are available here.

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