A quieter deal market has affected the controversial practice, meaning that 'lenders don't feel they're being told what to do', according to advisers.
November 20, 2023 at 06:38 AM
3 minute read
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Editor-In-Chief
A more muted deal market has shifted the balance of power between banks and private equity sponsors in leveraged finance deals, top partners have told Law.com International.
The controversial ‘designation model’—in which private equity sponsors dictate which law firms will advise the banks on deals—has recently been the focus of scrutiny by the media and regulators.
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