Subprime auto defaults are soaring, and PE firms have no way out

Gabrielle Coppola and Claire Boston

01/02/2018

NEW YORK – Private equity firms that plunged headlong into subprime auto lending are discovering just how hard it might be to get out. A Perella Weinberg Partners fund has been sitting on an initial public offering of Flagship Credit Acceptance for two years as bad loan write-offs push it into the red. Blackstone Group…

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