abstract:Mezzanine capital, in finance, refers to a subordinated debt or preferred equity instrument that represents a claim on a company's assets which is senior only to that of the common shares. Mezzanine financings can be structured either as debt (typically an unsecured and subordinated note) or preferred stock.
In addition to telecoms, software and cyber security investing, the source, who spoke on the condition of anonymity, said Swarth engages in mezzanine lending, capital markets and algorithmic trading.
It is much the same at KKR, which Kravis describes as a hub and spoke now that the firm has expanded into businesses like credit financing, mezzanine finance and capital markets.