Alacrity’s loan deemed safe before restructuring

Little scrutiny: People pass the New York Stock Exchange. The lack of clarity on what an asset’s worth is a regular complaint in private markets and that’s starting to alarm regulators and some demanding stronger protections in their credit agreements. — AP

NEW YORK: At the end of June, Alacrity Solutions’ debt looked like a solid bet, at least according to the prices assigned to it by lenders, a group that included Blue Owl Capital Inc, Antares Capital and KKR & Co.

Cut to late October and, with little warning, the insurance claims manager was headed into full-scale restructuring talks.