Private equity

Junk bond market makes first sale in over a month

The junk bond crunch yesterday began to ease, thus giving some hope to private equity firms that have been forced to put prospective deals into a leveraged holding pattern.

Why it matters: This had been the longest high-yield drought in decades, lasting longer than during the financial crisis or after 9/11.

Joseph Swedish starts private equity firm

Joseph Swedish and other health insurance executives walk into the White House.
Joseph Swedish (center) used to be CEO of health insurer Anthem. Photo: Brendan Smialowski/AFP via Getty Images

Joseph Swedish has started his own private equity firm, called Concord Health Partners, since stepping down as CEO of health insurance company Anthem in 2017, Swedish told me at the J.P. Morgan Healthcare Conference in San Francisco.

Why it matters: Swedish is a high-profile health care executive who has amassed a fortune that will now partially go into various companies. Swedish said he still advises Anthem on the side, but he's now focused on his private equity investments in areas like technology and other health care services.

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