Getting a fairness or valuation opinion on a private equity GP-led secondaries transaction is a straightforward, albeit costly task. In credit secondaries, however, the rule change creates a cumbersome burden.
The German market is branching out from unitranche to other types of financing, as well as seeing innovations in documentation, write Thomas Weitkamp, Rainer Adlhart and Anna-Maria Kuckerz of Latham & Watkins