From Warning Signs to Solutions: Managing Distress in PE-Backed Businesses

When financial challenges emerge, the earliest warning signs aren't always obvious. In this episode of Committed Capital, corporate partner Leahana Grimley sits down with Jennifer Harris and Isabella Vecchio from Dechert's capital solutions team to discuss how private equity sponsors can identify signs of financial distress within their portfolio companies before challenges escalate into a crisis.Drawing on their experience advising sponsors, borrowers and creditors, they explore both traditional and less obvious indicators of distress, common pitfalls sponsors should avoid and practical strategies for preserving flexibility, maximizing value and positioning portfolio companies for long-term success.

AI isn't just affecting how businesses operate, it's reshaping the threats they're up against. In this episode of our Committed Capital podcast series, partners Brenda Sharton and J.J. Jones of Dechert’s top ranked cybersecurity, privacy & AI practice explore how advances in AI are transforming the cybersecurity threat landscape, and what that means for private equity sponsors and portfolio companies at every stage of the deal lifecycle.

Every deal document tells a story, and in an antitrust merger review, overbroad and imprecise language can cost months of investigation and millions of dollars in legal fees. In this Committed Capital episode, Dechert antitrust attorneys Rani Habash, Brian Hanna and Greg Luib draw on their combined experience at the firm, the FTC and the DOJ to break down the "hot documents" that attract unwanted regulatory attention and explain how companies can better prepare for their next merger filing.

The U.S. Congress has extended Medicare telehealth coverage through 2027, changing the calculus for telehealth deals in several concrete ways. In this Sidecar, Healthcare Transactional Practice co-heads Markus Bolsinger and Jennifer Hutchens and associate Brooke Meadowcroft discuss the principles that will help investors act on the opportunities brought by this increased deal window while also building strategies to outlast any single policy.

In this Sidecar, Dechert partners Jarlath Pratt, Clemens York and Mike Okkonen break down the European Commission's proposed Industrial Accelerator Act and its implications for foreign direct investment in the EU's emerging strategic sectors, including batteries, solar, EVs, and critical raw materials. The draft IAA proposes a mandatory pre-closing notification regime with strict conditions, including ownership caps, joint venture requirements and technology transfer obligations, targeting investors from countries controlling more than 40% of global manufacturing capacity in the relevant sectors. Non-EU investors caught by the proposed new regime are well-advised to monitor related developments and to start considering partnerships with EU investors ahead of the legislation being finalized.

With buyout and exit values climbing, GPs are leaning in — despite shifting U.S. trade policy, European political stasis and geopolitical uncertainty. On Dechert’s Committed Capital, Everstone Group's Sujoy Bose, Investcorp’s Daniel Lopez-Cruz and Ridgemont Equity Partners’ Dan Harknett join Dechert’s Markus Bolsinger, Sabina Comis, Maria Tan Pedersen and Nick Tomlinson to discuss 2026 opportunities and the legal issues shaping PE dealmaking.Show NotesDechert's 2026 Global Private Equity Outlook

Will your next deal trigger a state “mini-HSR” (Hart-Scott-Rodino) filing? In this episode of Committed Capital Sidecar, Dechert partner James Fishkin unpacks the rise of state mini-HSR premerger filing laws under the Uniform Antitrust Premerger Notification Act – who must file, the key nexus thresholds and what materials must be submitted. He spotlights Washington and Colorado’s early adoption, outlines civil penalties for noncompliance and shares practical guidance for dealmakers on coordinating multi-state filings and managing state attorneys general review risk.

How will Medicare’s telehealth back-and-forth – and new developments like the 10-year CMS ACCESS Model – reshape the investor playbook? Markus Bolsinger, co-head of Dechert’s global private equity practice, joins Dechert partner Jennifer Hutchens and associate Brooke Meadowcroft to unpack shifts from pandemic-era expansion to the October 1, 2025 “telehealth cliff” and reinstatement through January 30, and what they mean for strategics and PE. They explore the convergence with DTC pharma and how digital-first infrastructure, data integration and safeguards can make telehealth the connective tissue between coverage and access to care.

How might Oregon’s new laws restricting private equity in healthcare operations affect regulations in other states, and what should investors and healthcare providers know about them? In the debut edition of Committed Capital’s PE Rx series examining the intersection of PE and healthcare, Dechert partners Markus Bolsinger and Jennifer Hutchens unpack the history and impact of Oregon’s SB 951 and HB 3410, including their practical implications for PE sponsors and management service organizations, the state’s evolving stance on the corporate practice of medicine and much more. Show Notes"Healthcare Private Equity Soon to Face Significant Hurdles in Oregon," Dechert OnPoint (June 10, 2025)"New Oregon Law Leads Nation in Restricting Healthcare Investment," Dechert OnPoint (June 26, 2025)

Earlier this month, a U.S. executive order was signed to broaden the availability of alternative asset investments for individuals with 401(k) plans. In this Sidecar episode of our Committed Capital podcast, Dechert partners Bill Bielefeld and Steve Rabitz dive into the challenges fiduciaries face under ERISA and the regulatory shifts poised to redefine retirement investment strategies moving forward. From liquidity concerns to fee structures and legal uncertainties, this comprehensive conversation sheds light on how plan sponsors and asset managers can navigate the evolving landscape of alternative asset inclusion in participant-directed retirement plans.Show Notes:New Order ‘Targets’ 401(k) Plan ‘Alternatives’: President Takes Aim at Legal Barriers and Litigation Risks, Dechert OnPoint (August 11, 2025)