Private Lenders to Convert IDG Debt to Equity in Restructuring

A group of direct lenders have agreed to convert some of their debt for International Data Group into equity, marking the latest restructuring to occur within the $1.6 trillion private credit market, according to people with knowledge of the matter.

Lenders struck the deal last week with the market intelligence company, which Blackstone Inc.’s managed private equity funds bought in 2021 for about $1.3 billion. Goldman Sachs Group Inc.’s asset management arm, Oak Hill Advisors, Cliffwater, Jefferies Financial Group Inc. and Blackstone’s credit arm financed the leveraged buyout at the time with a debt package of around $1 billion, said the people, who asked not to be identified discussing private information.