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Timely Bloomberg piece
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During COVID, consumers stuck at home spent money to improve their living spaces, helped by stimulus checks, low rates, and a hot housing market. Demand for custom window coverings surged, and SWF grew revenue by ~40% in 2020.
In September 2021, Clearlake bought SWF in a ~$3.4bn LBO financed with ~$2.25bn of debt, betting that demand would hold up as the pandemic boom faded.
However, inflation and rapid rate hikes pushed up costs while freezing the housing market, so existing home sales and remodeling activity dried up and consumers pulled back on big-ticket home spending. Revenue declined through 2024, margins compressed, and the business started burning cash. By late 2024, SWF negotiated a deal with lenders to proactively raise liquidity and capture discount.
As of October 2026, negotiations are restarting
Read full edition below
If you love to learn niche topics and go deep, this is for you
Alphasense is giving out and letting you pick what Deep Research report you want to read based on your preferences.
From APAC-focused Chip Supply to VC activity for data infrastructure, I am confident you will find something interesting to dive in.
Pick your report below
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I've always wondered how it must feel to live in such crazy times...
For the first time this week, I saw some serious FOMO.
Multiple friends left excellent buy-side seats to join very early-stage startups.
Can't win the lottery if you don't buy a ticket after all, right?
While matchmakers are businesses with a structural issue (a satisfied customer churns, of course), it is clear to me that AI will be huge for dating.
Online dating has taken a massive share, and AI is perfectly positioned to disrupt it even further.
Multiple studies have proved how dating success is tied to similarities.
Can you think of anything that is particularly well equipped to go through tons of data (people) to find great combinations (couples)?
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AI made everything faster. Love is the one thing it shouldn't rush.
Introducing Inyo: your personal matchmaker that lives in iMessage.
No feed to scroll. Nothing to swipe. You just text.
Inyo gets to know you the way a close friend does, including the patterns you can't see yourself. Then, every few days, it introduces you to someone who fits.
Two separate lives. One introduction.
We're live in NYC, SF, LA, and Toronto. Comment "Inyo" and I'll send you an invite.
During COVID, consumers stuck at home spent money to improve their living spaces, helped by stimulus checks, low rates, and a hot housing market. Demand for custom window coverings surged, and SWF grew revenue by ~40% in 2020.
In September 2021, Clearlake bought SWF in a ~$3.4bn LBO financed with ~$2.25bn of debt, betting that demand would hold up as the pandemic boom faded.
However, inflation and rapid rate hikes pushed up costs while freezing the housing market, so existing home sales and remodeling activity dried up and consumers pulled back on big-ticket home spending. Revenue declined through 2024, margins compressed, and the business started burning cash. By late 2024, SWF negotiated a deal with lenders to proactively raise liquidity and capture discount.
As of October 2026, negotiations are restarting
Read full edition below
Working in restructuring in 2026:
“Canva,
Create the org chart for Hertz:
- Increase a box to illustrate the restricted group
- Add a second box for the guarantor group
- Add a box for the Oro entity, which is now a JV
- Oh, add a middle finger for legacy 2L that got bought back at a 60% discount
Make no mistakes; you’re not an intern at a bottom-tier EB like Jefferies”
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"The liquidity bottleneck creates significant long-term pressures for LPs as they manage portfolio construction, pacing, and commitment levels.
With distributions still well below historical norms, LPs face complex decisions balancing immediate liquidity needs against continued exposure to potentially high-performing assets. Broker surveys show that 31% of LPs cite lack of distributions as the chief constraint on deployment."
What are you hearing from the market? What is impacting your fund the most?
Find full report below.
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