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Hi, I’m a physician. I sold my practice to a private equity group that is currently operating hundreds of different physician’s offices. I decided to convert a part of my sale proceeds to equity in this private equity group. This, however, has trapped me within a rather restrictive non-compete covenant. I can only get out of this covenant once I sell my stake in the group. I am told that I will be able to liquidate my investment once there is a recapitalization event. This company last underwent recapitalization in 2021 and is currently waiting. Will the decrease in interest rates (and subsequent rise in asset prices) occur in the next year? Irrespective of the potential for rate cuts, what do you think is the likelihood that a recapitalization event will occur next year? Will a recession hurt my chances of making a significant profit?
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- 6 months ago
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Most physician groups are struggling now with liquidity and lender covenants. Realistically you should be able to get out of your non-compete depending what state you’re in. There is a good chance that the equity you rolled however could be worthless