Member and Private Equity Co-chair Matthew T. Simpson was quoted by Pitchbook in an article about buyers using preemptive bids to fast-track acquisitions. In the article, Matt discusses how buyers are using preemptive bids to get ahead of or otherwise circumvent competitive bidding auctions to land a quality asset. 

He observes the recent increase in strategic buyers using preemptive bids to target PE-backed assets, recognizing the pressure on PE sponsors to achieve exits as well as the impact of high interest rates on their ability to compete on the buyside: “I think there is a calculus where strategics think now is a pretty good time to look at assets because it is still hard for PE firms to be a buyer—and there is an increasing pressure for them to be the sellers.”

Source

Pitchbook