Evidence from Dividend Recapitalizations in Private Equity (2025) : A rigorous study showing that recaps increase total debt by 84% on average and increase financial distress risk by 2.4 times.
Dividend Recap: LBO Tutorial With Excel Examples : A practical guide for finance professionals on how these transactions are modeled and how they influence Internal Rate of Return (IRR). : leveraged buyouts with dividend recapitalizations
The Dividend Recap Surge : Explains why sponsors extracted over $22 billion in early 2025, a 60% year-over-year increase, and the resulting implications for credit quality. a 60% year-over-year increase