PE Today: Top Banks Encourage Digitization of Syndicated Loans with Versana


Read the headlines from Wednesday, March 16, 2022 below:

Global banks launch syndicated loans platform Versana

Leading global banks seek to digitally transform the syndicated loan market with the launch of Versana, a platform that will connect banks, institutional lenders and service providers to promote efficiency and. Transparency.

Co-founded by JP Morgan, Bank of America, Citi and Credit Suisse, the Versane the platform will go live later this year. The platform will seek to automate digital data collection of real-time bank reference data, improving visibility of loan-level information and lender portfolio positions.

Reports in Bloomberg noted the importance of the leveraged loan market at a time of significant growth in private equity transactions, as well as increased interest in private equity firms supporting the acquisition of debt by holding companies for leveraged buyouts. Historically, the lack of a standardized debt structure and disclosure requirements has made data aggregation a challenge for the space; Versana will seek to centralize this data and improve connectivity between banks and lenders to accelerate settlement times.

“Our industry sits at the crossroads of global banking, private equity, asset management, insurance and private wealth, yet we haven’t seen the digital transformation that has happened. in other parts of the capital markets,” Loan Syndications & Trading Association said. executive director Lee Shaiman in a statement.

Related content: What future for the leveraged loan market?

GreyLion Launches Trade Show Acquisition Effort with NATDA Buy

GreyLiona private equity firm focused on the lower middle market, announced on Wednesday March 16 that its trade show platform company Collective Trifecta stretches across the acquisition of the North American Trailer Dealers Association (NATDA). The Association is the only light and medium trailer dealer association in North America, according to a press release, and includes the largest national trade show for the trailer industry, as well as a trade publication and membership organization. .

Trifecta has acquired NATDA from co-founders Amy and Andy Ackerman, who will hand over management to Rick MocConnell and Jennifer Hoff, who are partnering with GreyLion on Trifecta Collective. In a statement, GreyLion partner Ryan Anderson said NATDA would be “the first of several lounges we will acquire over the next few years.”

Odyssey acquires plastics supplier Pexco

Private equity firm focused on the middle market Odyssey Investment Partners announced its latest acquisition, supplier of engineering plastic components Pexco. A Press release released Wednesday said Pexco’s existing CEO and management team will remain at the helm of the company, with Odyssey joining forces to support the company’s continued scaling. “We look forward to leveraging our resources to support the company’s long-term growth and continued industry leadership,” Odyssey senior managing director Craig Staub said in a statement.

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