Not sure if this is a HF or PE question but is there such a thing as funds that are focused on DIP financings? Seems like a pretty vital function in the bankruptcy process and I was wondering if there are any specific big players focused on it. And to be really greedy with specific questions, any DIP financing firms focused on industrials?
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If you're asking firms that only lend super senior, usually as part of a roll up of existing senior collateral lenders without getting into priming fights, JPM/WF/BAML usually play ball. There's also niche funds at places like Nomura SSG that like to lever the DIP loan by partnering with junior DIP lender for smaller structures where the existing 1Ls don't want to put up new money.
Otherwise it's your typical distressed HFs playing defense in the sr. exposure who want to roll existing position on a super senior basis, lock down fees and create aggressive milestones that shut jr. creditors out.
Thanks. Somehow I didn't realize banks were so involved.
Not sure you understand what a DIP is then
I get it now...
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