When Debt is In Doubt

Aquiline Capital Partners, the private equity firm run by former Marsh & McClennan chief, Jeffrey Greenbert, has spun off a new commercial financing arm to put some of its capital to use. Tygris Commercial Finance Group, will launch with two deals already on its books in the form of to all-equity-financed buyouts of a leasing company and a healthcare equipment manufacturer.

This is a great example of why everyone looks at PE firms with awe; they're motivated to come-up with deals no matter what the economy is doing. With reports of the largest leveraged buyout deal (BCE here in Canada) put on hold with banks wanting to renegotiate their lending rates, you have firms like Aquiline refusing to squabble over spare change and putting $1.75 billion of capital raised via equity commitments to work.