Private credit in sponsor-backed LBOs: market growth, deal structures and risk implications
Nucci, Matteo (A.A. 2024/2025) Private credit in sponsor-backed LBOs: market growth, deal structures and risk implications. Tesi di Laurea in M&A and investment banking, Luiss Guido Carli, relatore Luigi De Vecchi, pp. 83. [Master's Degree Thesis]
Full text for this thesis not available from the repository.
Abstract/Index
Sponsor-backed LBOs: foundations and credit market context. Private equity as an asset class: fund structure, incentives and value creation levers. LBO financing fundamentals: capital structure, leverage metrics and funding instruments. The role of credit markets in defining leverage and pricing in buyouts. The rise of private credit: market structure and instruments. Defining private credit: differences and similarities with banks, syndicated loans and public debt markets. Market participants and business model: fund structures and investors. Core instruments in buyout financing: direct lending, unitranche, mezzanine and hybrid. Post-2008 growth in drivers: regulation, bank retrenchment and sponsor demand. Deal structures in sponsor-backed LBOs: private credit architecture and contracting. Financing architecture in sponsor-backed buyouts. Contract design: covenant packages and control rights. Economic terms: pricing, fees and refinancing. Systemic risk and financial stability implications of private credit in sponsor-backed leveraged finance. Valuation, transparency and risk measurement in private credit. Interconnectedness beyond banks: insurers and pension funds as concentrated endholders of leveraged private credit risk. Stress episodes and what they reveal: first brands and tricolor as case studies.
References
Bibliografia: pp. 78-83.
| Thesis Type: | Master's Degree Thesis |
|---|---|
| Institution: | Luiss Guido Carli |
| Degree Program: | Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77) |
| Chair: | M&A and investment banking |
| Thesis Supervisor: | De Vecchi, Luigi |
| Thesis Co-Supervisor: | Attolico, Leopoldo Maria |
| Academic Year: | 2024/2025 |
| Session: | Extraordinary |
| Deposited by: | Alessandro Perfetti |
| Date Deposited: | 10 Sep 2026 12:25 |
| Last Modified: | 10 Sep 2026 12:25 |
| URI: | https://tesi.luiss.it/id/eprint/46801 |
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