Marathon’s Richards Sees Coming Bonanza for LBOs, Private Credit

Mergers and acquisitions and private markets will rebound when the next Federal Reserve chair is appointed, according to Marathon Asset Management LP Chairman Bruce Richards.

Bringing down financing costs will boost transaction activity, increasing distributions to investors in private equity and making it easier for companies to repay their debts, he said in an interview with Bloomberg Television.

“It’s going to be a bonanza” moving forward “for the LBO and buyout community and for private debt lenders,” he said, referring to leveraged buyouts. “And the businesses will enjoy better free cash flow when they have less debt service with ...