NEW YORK, March 16 ― Bain Capital's co-managing partner, John Connaughton, told Reuters yesterday that the fallout from SVB Financial Group's collapse will weigh on...
NEW YORK, March 16 ― Bain Capital's co-managing partner, John Connaughton, told Reuters yesterday that the fallout from SVB Financial Group's collapse will weigh on banks that have already retrenched from lending.
While the banking sector is strong enough to withstand SVB's failure, the lender's collapse will add to the caution that banks have been showing, Connaughton said in a Reuters Newsmaker interview. Connaughton said the cost of typical debt financing for private equity firms doing deals had jumped from between 5 per cent and 6 per cent to between 8 per cent and 10 per cent, while equity checks had also jumped.
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