A Blackstone-led investor group has recapitalized Medallia, marking one of private equity’s biggest losses. The deal sees Thoma Bravo hand Medallia to lenders after its investment struggled to bounce back.
Medallia’s recapitalization caps a unexpected wipeout for private equity, with stakeholders absorbing the full loss. Analysts call the current downturn a ‘goose egg’ for the industry.
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