Private equity firms are increasingly using “continuation vehicles” to sell companies to themselves, booking paper gains amid a backlog of unsold businesses. This strategy allows firms to wait for better market conditions, but investors worry about questionable valuations and unrealistic projections, as exemplified by the bankruptcies of Wheel Pros and United Site Services.
Ind-Ra downgrades Jana Capital, Jana Holdings NCDs to default
India Ratings downgraded Jana Capital and Jana Holdings’ NCDs to default after both entities extended debt repayments by six months due to refinancing challenges. Jana