Carlyle Group’s proposed Cotiviti Inc deal, has attracted offers of support from Apollo Global Management, HPS Investment Partners and Blackstone to provide a $5.5 billion loan – the largest buyout financing ever arranged by private credit firms – to help finance the acquisition of the healthcare technology firm, according to a report by Bloomberg.
Carlyle Group’s proposed Cotiviti Inc deal, has attracted offers of support from Apollo Global Management, HPS Investment Partners and Blackstone to provide a $5.5 billion loan – the largest buyout financing ever arranged by private credit firms – to help finance the acquisition of the healthcare technology firm, according to a report by Bloomberg.
The proposed deal by Carlyle, which would involve teaming with another investment firm to acquire Veritas Capital-owned Cotiviti, values the business at nearly $15 billion, including the record private loan.
If the deal progresses, the $5.5 billion loan would surpass the previous $5 billion private credit record set by a Blackstone-led group to support the take-private of Zendesk Inc by a PE consortium led by Hellman & Friedman and Permira.
