The Carlyle Group’s decision to dissolve a $15 billion deal with Veritas Capital for a stake in its healthtech company Cotiviti delivered a blow to multiple firms—including the PE managers that had hoped to assist with a massive financing package. This spring, Carlyle had been in discussions with private credit providers seeking a $5.5 billion unitranche loan—which would have been the largest direct loan ever for this type of deal, PitchBook reports.
But monthslong talks between Carlyle and Veritas Capital over the purchase of a 50% stake in Cotiviti ended Tuesday without a deal, according to market sources.
At least 10 lenders were said to be participating with strong interest. Read more.
