It’s still possible to get a private equity deal done these days, said Walter E. Jospin, who chairs the corporate department at the local office of Paul, Hastings, Janofsky & Walker. But as his recent work for Newnan Utilities shows, there is a lot more hand-wringing when it comes time to close.
Private equity funds rely heavily on debt to finance acquisitions, teaming with investment banks and other lenders to purchase companies. But when the credit market turmoil began last year, the market for private equity buyouts largely dried up.
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