PE Today: Top Banks Drive Syndicated Loan Digitization with Versana

Read the top headlines from Wednesday, March 16, 2022 below:

Global Banks Debut Syndicated Loan Platform Versana

Leading global banks are looking to digitally transform the syndicated loan market with the launch of Versana, a platform that will connect banks, institutional lenders and service providers to promote efficiency and. Transparency.

Co-founded by J.P. Morgan, Bank of America, Citi and Credit Suisse, the Versana platform will go live later this year. The platform will look to automate digital data collection of bank reference data in real-time, enhancing visibility into loan-level information and lender portfolio positions.

Reports in Bloomberg noted the importance of the leveraged loan market at a time of significant growth for private equity deals, as well as increased interest in private equity firms supporting portfolio companies’ acquisition of debt for leveraged buyouts. Historically, a lack of standardized debt structure and disclosure requirements have made data aggregation a challenge for the space; Versana will look to centralize that data and enhance the connectivity between banks and lenders to accelerate settlement times.

“Our industry sits at the crossroads of global banking, private equity, asset management, insurance and private wealth, and yet we haven’t seen the digital transformation that has come to other parts of the capital markets,” said Loan Syndications & Trading Association executive director Lee Shaiman in a statement.

Related content: What’s Ahead for the Leveraged Loan Market

GreyLion Launches Trade Show Acquisition Effort with NATDA Buy

GreyLion, a private equity firm focused on the lower middle market, announced Wednesday (March 16) that its trade show platform company Trifecta Collective is expanding through the acquisition of the North American Trailer Dealers Association (NATDA). The Association is North America’s only light and medium duty trailer dealer association, a press release said, and includes the trailer industry’s largest national trade show, as well as a trade publication and membership organization.

Trifecta acquired NATDA from its co-founders Amy and Andy Ackerman, who will turn leadership over to Rick MocConnell and Jennifer Hoff, who are partnering with GreyLion on Trifecta Collective. In a statement, GreyLion partner Ryan Anderson said NATDA will be “the first of several trade shows we acquire over the next few years.”

Odyssey Acquires Plastics Supplier Pexco

Middle market-focused private equity firm Odyssey Investment Partners has announced its latest acquisition, engineered plastic component supplier Pexco. A press release issued Wednesday said Pexco’s existing CEO and management team will remain at the head of the company, with Odyssey partnering to support further scaling of the business. “We look forward to leveraging our resources to support the company’s long-term growth and continued industry leadership,” said Odyssey senior managing principal Craig Staub in a statement.