In early March, Carlyle Group appeared close to a takeover that valued healthcare software company Cotiviti at $15bn. It was just the sort of audacious deal that large private equity firms have been pulling off for much of the past decade.
More than a dozen private lenders, including the credit arms of Blackstone, Apollo Global, Ares and HPS, were ready to sign off on a record $5.5bn private loan that would have put Carlyle in control of Cotiviti.
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