BC Partners Seeks to Take Control of LIV Golf from Saudi Wealth Fund

✦ Meridian Analysis

BC Partners, the European private‑equity house, is reported to be negotiating the purchase of the Public Investment Fund’s (PIF) bankruptcy loan that underpins the assets of the defunct LIV Golf league. The transaction remains at the rumour stage. In a typical distressed‑credit deal, the buyer acquires the senior loan with the expectation of converting it into equity or restructuring the capital structure to gain control of the underlying business. BC Partners would act as the financial sponsor, while the Saudi sovereign wealth fund, through its PIF loan, is the current creditor whose exposure the private‑equity firm seeks to assume. Deal professionals will be watching for the price BC Partners is prepared to pay for the loan, the exact terms of any debt‑to‑equity conversion and the composition of the financing package. Neither the valuation nor the advisers involved have been disclosed, nor have the timelines for creditor consent, any required antitrust clearances or a possible relaunch plan been made public.

The Meridian Weekly