Monday, May 23, 2016

American Capital: Agrees to Deal w/ ARCC, ARES, AGNC

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Well this news was a bit anti-climatic, today American Capital (ACAS) agreed to a series of transactions with Ares Capital (ARCC), Ares Mana...
4 comments:
Wednesday, May 11, 2016

Pinnacle Entertainment: GLPI Deal Complete, OpCo Spinoff

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In the fall of 2013, regional casino operator Penn National Gaming spunoff Gaming & Leisure Property Inc (GLPI) to hold their real estat...
9 comments:
Thursday, April 28, 2016

Par Pacific Holdings: Update, Distressed Energy M&A Thesis

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I received the Par Pacific Holdings (PARR) annual report in the mail this week and thought it made sense to revisit my initial thesis in an ...
11 comments:
Wednesday, April 6, 2016

Interval Leisure Group: Reverse Morris Trust with Starwood

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The bidding war for Starwood Hotels (HOT) between Marriott International (MAR) and Chinese insurance company Anbang grabbed a lot of headlin...
33 comments:
Tuesday, March 22, 2016

KCAP Financial: Another Busted BDC, Potential M&A Candidate

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We've seen a pretty incredible rally the last 5-6 weeks in the market, especially in junk debt and lower quality equities which basicall...
Friday, February 12, 2016

NexPoint Residential Trust: Update, Substantial Discount to NAV

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On February 22 at 5:30 pm, I'll be hosting the CFA Society Chicago's Special Situation Research Forum in the loop, the topic chosen...
17 comments:
Tuesday, February 2, 2016

Crossroads Capital: Busted BDC, Bulldog Pushes Toward Liquidation

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The tide has just about fully washed out of the business development company sector (more on the manager/fund raiser side), most BDCs are re...
10 comments: