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  1. Milken Institute1h 0m

    The Art and Science of Capital Structure

    Manny, Mitch, Mark, John

    Industry leaders from Crescent Capital, Leonard Green, and Canyon detail how post-2008 regulations have transformed US banks into public utilities, driving a $75 trillion expansion in shadow banking and alternative financing structures. Panelists highlight specific investment opportunities in capital structure arbitrage, OpCo/PropCo splits, and the European vacuum for operating finance companies to capitalize on market volatility. Ultimately, these firms advocate for disciplined balance sheet restructuring and private credit strategies while avoiding regulated banking entities to mitigate liability and regulatory risk.