Banks, Private Credit Firms Face Off to Finance PowerSchool Buyout
- Private lenders are preparing a roughly $3 billion package
- Banks have offered less debt, preferred equity piece
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Private credit lenders and banks are competing to provide debt financing for a potential buyout of education software provider PowerSchool Holdings Inc., according to people with knowledge of the matter.
Ares Management Corp., HPS Investment Partners, Blackstone Inc. and Blue Owl Capital Inc. are among the direct lenders seeking to provide a roughly $3 billion debt package for the deal, said the people, who asked not to be identified discussing a private transaction.