Cloud 9fin

Private equity has made its way into nearly 23% of for-profit US hospitals, despite financial goals that can be at odds with the patient-oriented priorities in health systems. Distressed reporter Samantha Kroontje went to a new “healthcare desert” in Delaware County, Pennsylvania, to speak to some of the people impacted by the closure of its main health system, which came after years of debt-funde...

What happens when a banker gets fed up with outdated technology and decides to build something better? In this week’s episode of Cloud 9fin , we depart from our usual programming to share an interview produced by one of 9fin ’s investors, redalpine . Co-founder Steven Hunter shares how he turned years of complaining about broken fintech into 9fin — a 357-person company that's disrupting global deb...

The English courts have been called upon several times in the last few years to reevaulate what should be considered fair in Part 26A restructuring plans. Within 2025, the Court of Appeal handed down two key decisions on distressed utility company Thames Water and upstream energy engineering firm Petrofac ’s restructuring plans. Those decisions, combined with another Court of Appeal decision hande...

In this episode of Jane’s LME Addiction , *9fin’*s head of LME coverage Jane Komsky brings in Sound Point Capital Management managing director, Morgan O’Neill to discuss the intersection of private credit and LMEs. They discuss the red flags and green flags of whether a deal away is a real possibility or just there to threaten exiting lenders and how to tell if a LME will be built to last. Find al...

In this week’s episode of Syndication Nation, a podcast dedicated to all things leveraged finance, 9fin LevFin reporter Dan Mika talks with Barclays Head of US Credit Strategy Dominique Toublan about Barclays’ credit capitulation and complacency signals. What does the recent miss and revision in the US jobs report mean for lenders? What does it mean when credit spreads are getting tighter despite...

On Sunday 27 July, US and the EU have struck a deal to set at 15% tariffs on EU export to the US, which is not as high as president Donald Trump previously threatened, but can still impact Europe’s biggest car producer, Germany. Senior distressed reporter Bianca Boorer, host of this series , travelled to Munich to find out just how big the dent on the auto sector will be. She sits down with Hendri...

In this episode of Cloud9fin , our distressed debt editor Rachel Butt brings in Jonathan Foster, founder of Current Capital Partners , to discuss corporate governance in restructurings and bankruptcies. They delved into Jon’s career, his book On Board , and thorny topics including the so-called super repeaters trend and third party releases. Have any feedback on the podcast? Send us a note at podc...

In this episode of Jane’s LME Addiction, 9fin’s head of LME coverage Jane Komsky brings in Mudrick Capital Management founder, Jason Mudrick, and Akin Gump partners Dan Fisher and Jaisohn Im to discuss disqualified lender (DQ) lists. They discuss the the goal of DQ lists, whether they actually work (spoiler: they believe they do not), and the implications for sponsors and lenders involved. Find al...

Earlier in June, Ares priced its first direct lending CLO, the second of its kind of Europe, but with a twist — it is priced in sterling. The last 12 months have been a busy time for the private credit giant, as they also completed a €30bn fundraise in Europe and opened a new office in Milan. In this episode of Cloud 9fin , senior private credit reporter Synne Johnsson chats with Andrea Fernandez,...

In this episode of Jane’s LME Addiction , our head of LME coverage Jane Komsky brings in founding partner of Selendy Gay , Jennifer Selendy, to discuss LME litigation. They discuss the perspective of excluded lenders, when it makes sense to hold out, and why we have yet to find any certainty on the validity of specific LME tactics and debt document language. Find all our coverage on LME litigation...

It has been a busy month for the Significant Risk Transfer (SRT) market as investors returned from the Global ABS conference in Barcelona earlier this month to a flurry of new deals, 9fin’s Celeste Tamers reported . In this episode of Cloud 9fin, US distressed debt reporter Ayden Crosby is joined by David Lucking, a partner in Linklaters' US structured finance practice, to discuss the state of SRT...

In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin , talks with Sumer Chopra, director at Alumia , to discuss how CLOs have gone from an exotic to an essential product in the eyes of institutional investors. They discuss what’s led to the boom of family offices allocating to CLOs, double-Bs and single-Bs outperforming CLO equity, and how some endowments still struggle with the...

We are back to France — the current epicentre of European credit stress — for our second episode of Distressed Diaries. Over the last few months, French lab company Cerba ’s debt has taken a beating as fears mount over its unsustainable €3.8bn capital. Most recently, 9fin reported that creditors have started to organise and appointed legal advisors in the lead up to possible debt negotiations. The...

President Donald Trump’s much anticipated ‘Liberation Day’ sent global markets into a tizzy in April, but how did private credit firms react? During what we have termed the ‘Deliberation Days’ of Q1, private credit investors were scrambling to mitigate potential tariff risks as best they could but they were also on the offensive. Elijah Jackson’s latest quarterly report on the state of the market,...

In this week’s episode of Syndication Nation, a podcast dedicated to all things leveraged finance-related, 9fin deputy editor Sasha Padbidri and head of legal James Wallick have put together a terrible headline and a great conversation on the emergence of President Donald Trump’s tariff language in new issue debt documents. For more details (and terrible headlines), check out our reporting on Span...

In this episode of Jane’s LME Addiction , our head of LME coverage Jane Komsky brings in Rachel Murray, a managing director at Moelis, to discuss how today’s restructuring environment compares to the Covid era and how that experience can guide clients. They discuss what makes an LME effective, in addition to current trends and techniques that are shaping the space. Check out all of our LME coverag...

In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin , talks with Yang Xu, CEO at City Hall Capital , to discuss the growth of family offices allocating to CLOs. They talk about how CLO equity and mezz ticks all the boxes for family offices, the need for more double-B CLO funds, captive equity vs third party equity funds, and how CLO managers need to do more to educate family of...

In the inaugural episode of Syndication Nation , 9fin ’s podcast on all things syndicated debt, deputy editor William Hoffman joined US managing editor Bill Weisbrod to talk about his recent coverage of Warner Bros. Discovery and its $37bn of debt to high yield by S&P. They discussed what led to the downgrade, the prospects for the company reaching full-blown fallen angel status, and broader i...

In today’s market, speed of information and up-to-the-minute accuracy are essential in portfolio management. With that in mind, Chase Collum, head of podcasts at 9fin , sat down with Scott Alintoff at FIS to discuss how lenders can ensure they’re staying ahead in these turbulent times. In this third of a series of discussions, Scott shares a high level view of the state of the market, current chal...

Altice France ’s restructuring negotiations has been one of the hottest talks of the distress town since last year. With the company now preparing to enter into accelerated safeguard proceedings, we went through what happened so far in our inaugural episode of Distressed Diaries — a brand new 9fin podcast series focused on distressed debt in Europe. Senior distressed reporter Bianca Boorer, host o...

US tariff policy has unleashed economic uncertainty both domestically and elsewhere. Even after a de-escalation of the worst trade tensions with China, things are still unclear. In this episode of Cloud 9fin , distressed debt reporter Max Reyes sits down with Canyon Partners opportunistic credit co-heads Chaney Sheffield and Jonathan Barzideh to better understand what unique investments can be mad...

Here at 9fin , we pride ourselves on being private credit enthusiasts. And that means covering all parts of the market, big or small. This includes all the nascent and niche areas like venture debt and tech lending. In this episode of Cloud 9fin , senior private credit reporter Peter Benson sits down with Ron Daniel, co-founder and CEO of Liquidity Group, a direct lender focused on tech lending. T...

Generally speaking, lenders don’t lend money to companies with the intention of ending up as equity owners. But things don’t always go to plan. And anyone who’s been there can tell you that the hard truth for certain companies is that no plan could have ever saved it — or as Jon Weber would say: “If the baby’s ugly, the baby’s ugly.” In this week’s episode of Cloud 9fin , senior private credit rep...

A seemingly endless cycle of tariff pronouncements and delays has been sending stocks and liquid debt markets on a roller coaster ride in recent weeks. But what does ever-changing US tariff policy and associated market volatility mean for private credit firms? How do direct lenders keep protect themselves from the fallout and what are the key points in credit agreements these days? Join 9fin ’s se...

In this episode of Cloud 9fin, Tanvi Gupta, global head of CLOs at 9fin , talks with Carlyle’s Lauren Basmadjian, global head of liquid credit, and Matt Maxwell, head of US loans, to discuss how CLO managers are positioning themselves in the current tariff induced volatility. They talk about taking advantage of the dislocation in the market, sector specific tariff risk, opportunities for a pull to...