Friday, September 06, 2019
An anonymous reader shares a report:The secretive Israeli spyware company NSO Group gained notoriety following allegations that its hacking tool Pegasus was used by governments like Saudi Arabia and Mexico to track dissidents and journalists. A few months later, the company was acquired for $1 billion by its cofounders Shalev Hulio and Omri Lavie alongside the private equity firm Novalpina Capital. To get that deal done, the founders raised money through a debt offering led by Credit Suisse and Jefferies. The banks reportedly struggled to sell the debt due to ethical concerns, but in the end it found buyers in mutual funds including BlackRock and Principal Financial Group, as well as collateralized loan obligation (CLO) management firms Ellington Management Group and Saratoga Investment Corp. Why would so many financial institutions align themselves with a company with a contentious reputation? NSO Group is high growth, and it's wildly profitable, according to a person who saw the debt offering circulated by the company earlier this year who shared its contents with Business Insider. And it did that all with just 60 customers.
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