The unholy alliance of Greensill and the growth hackers
Loans to Greensill’s venture capital backers, such as General Atlantic and Soft Bank, suggest a circular relationship built on hidden leverage. This is what happens when growth rules at all costs.
As supply chain financier Greensill spectacularly unravels, the question many are asking is how systemic is its slide into insolvency?
Goldman Sachs CEO David Solomon, who you would expect to have a good vantage point, doesn’t believe it is systemic, and at The Australian Financial Review Business Summit he branded it a “micro problem”. We would tend to agree.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
