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Layering on mezzanine

11 November 2009 By Lauren Silva

Blackstone, TPG and KKR have all tapped mezzanine funds for recent LBOs. The hybrid debtequity financing plugs a gap that burnt banks aren’t yet willing to fill. Some buyout firms have mezz funds inhouse, too. And while it’s pricier than straight debt, mezz is more flexible.

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