Acharya, Viral V.; Franks, Julian; Servaes, Henri - In: Journal of Applied Corporate Finance 19 (2007) 4, pp. 44-53
The private equity or leveraged buyout (LBO) market in Europe and the U.S. has grown enormously over the last two decades, from $7.5 billion in 1991 to $500 billion in 2006. Much of the financing of recent transactions has come in the form of syndicated debt, which is dispersed after origination...