Private Equity Firms Are Finding New Ways to Curb Creditor Power 

Private Equity Firms Are Finding New Ways to Curb Creditor Power – BloombergThe Blackstone headquarters in New York.Photographer: Michael Nagle/BloombergBy , , and Private equity firms are finding new ways to keep a tighter grip on portfolio companies if they get into financial distress.They’re adding new provisions to debt documents to curb creditor voting rights, and are also pushing back against so-called cooperation agreements between lenders. These proactive measures by buyout firms come as they strive to maintain the power they’ve been gaining in the past decade as lender protections weakened.