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Private equity firms pay themselves record sums with debt
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fnlondon.comPrivate equity firms are taking advantage of a frothy credit market to pay themselves record sums with borrowed money, a controversial practice that critics say benefits buyout-firm executives but can harm portfolio companies.
Companies backed by US private-equity firms have taken on $58.5bn in dividend-recapitalisation debt this year through 20 October, S&P Global Market Intelligence's LCD unit said in response to a Wall Street Journal data request. That is more than levels of such debt for 2019 and 2020 combined. The previous...
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