Blackstone Credit's Viral Patel Sees Opportunity for Private Credit to Support Tech Firms Amidst Sluggish IPO Market
Portfolio Pulse from Anusuya Lahiri
Viral Patel, Blackstone Credit's global head of technology investing, sees private credit as an attractive option for tech firms amidst a sluggish IPO market. Patel disclosed Blackstone's focus on cash flow-based loans and the shift from ARR loans to EBITDA-based loans for companies reducing top-line growth. He also expressed a positive outlook on IPOs and a preference for cybersecurity and software companies catering to corporations' increasing data volume.
July 07, 2023 | 4:44 pm
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Blackstone's focus on private credit and cash flow-based loans could attract tech firms struggling with a sluggish IPO market. This strategy, along with a positive outlook on IPOs and preference for cybersecurity and software companies, could potentially boost Blackstone's performance.
Blackstone's strategy of focusing on private credit and cash flow-based loans could attract tech firms struggling in the current IPO market. This, coupled with their positive outlook on IPOs and preference for cybersecurity and software companies, could potentially lead to increased business and, in turn, a boost in their stock performance.
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IMPORTANCE 75
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