In our earlier comment we noted big private equity/debt funds have taken the view that current low interest rates leave junk bonds in a bad place whether the economic outlook is good or bad.So if junk bonds are the closest risk proxy for equities then it was interesting to read Zero Hedge pick up on a sudden flurry of equity stake selling by a number of PE players. It’s a serious list….
Apollo, KKR, Carlyle, Blackstone, Thomas H. Lee, and Bain.
And the sales are in the following companies…
LyondellBasell, Nielsen, Sensata Tech, Pioneer Natural Resources and two property trusts – ARMOUR Residential REIT and Biomed Realty Trust.
Remember who is playing at the poker table…….
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