Coronavirus - Private equity and the pandemic: A bitesize article series - Global

Eversheds Sutherland's PE team have joined together to produce a series of weekly “bitesize” articles focussing on current issues relevant to private equity houses and their portfolio companies and looking forward to the issues which are likely to be relevant to them over the coming months.

Current issues

1. Introduction

In the first article PE partner Richard Kyle introduces the series and focuses on how PE houses have navigated the initial stages of the COVID 19 pandemic including the use of government led funding support.

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2. Debt finance trends

In the second article Banking & Finance Partner Chris Hastings discusses debt finance trends and how these may affect the private equity industry, along with its portfolio companies, advisers and lenders.

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3. Sponsor funding considerations

In the third article Principal Associates Chris Archer (Private Equity & M&A) and Deepesh Upadhyay (Tax) discuss sponsor-led funding considerations.

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4. Tax housekeeping

 In the fourth article Tax Partner Colin Askew discusses how you can use tax to help manage cash flow.

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5. Directors duties

In the fifth article of the series Legal Director Ceri-Ann McGraa discusses the impact on Directors' Duties in light of the COVID-19 pandemic.

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6. Contractual considerations

In the sixth article of the series Legal Director Ceri-Ann McGraa discusses the considerations relevant to contractual arrangements during the Covid-19 pandemic from two perspectives: firstly, what should businesses be doing now, and secondly, what can businesses do going forwards to future-proof their contractual arrangements.

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Future considerations

7. Preparing for the future

In second half of our article series we discuss the future and what the changes, opportunities and challenges for the industry could be post-pandemic. Tax Partner Ben Jones discusses his thoughts on this, and the areas we will cover in the second-half of the series.

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8. Future of M&A part 1

In the eighth article in our series Legal Director Ceri-Ann McGraa and Paul Pugh, Chair of Eversheds Sutherland's Future of M&A Group, discuss some of the areas of M&A where we are seeing or envisage change going forwards, namely: deal origination, deal process including due diligence and the growth of opportunistic M&A.

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9. Future of M&A part 2

Following on from last week's article on the Future of M&A, this week Corporate Principal Associate Chris Archer discusses valuation and pricing mechanisms, with a particular focus on the ways that parties to M&A transactions can bridge the valuation gap. Chris also looks at the lessons learned from previous economic downturns as well as trends that are starting to emerge from transactions.

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10. The future of debt funding

In this week's article Banking and Finance Partner Chris Hastings discusses how there is an increasing sense of optimism that the private equity / M&A markets are reopening, and with it a call for debt financing.

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11. The future of management incentivisation

In this week's article Danny Blum, Head of Employee Incentives, devises a game of tax Snakes and Ladders and discusses how management and employee incentivisation schemes may be impacted by the pandemic.

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12. Restructuring considerations

Since the on-set of Covid-19 the press has been littered with household names that have fallen victim to one form of restructuring process or another. In the last article of the series Ceri-Ann McGraa takes a closer look at the rule book to understand what exactly this ‘restructuring’ entails and what that might mean for sponsors.

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