Taking the Credit — Opportunities are slender with an incumbent lender
- Josie Shillito
Private credit is marketed as a relationship business, so it comes as no great surprise when existing lenders to a business hang on tooth and nail to continue that relationship come LBO or refi.
Goldman Sachs is the latest in a line of lenders to use its incumbent status to great advantage. The private credit arm of the global financier is lining up a €1bn+ package of private credit financing alongside co-investors for Triton’s sale of German packaging provider All4Labels — in which Goldman Sachs is incumbent lender.