Private equity players are increasingly identifying investment opportunities in senior bank debt within their own portfolio companies and are choosing to invest in them as opposed to new companies, explains Emanuel Cherney, a partner at Kay Scholer LLP and a recent columnist for The Deal Magazine. In this episode of Inside The Deal, Cherney tells The Deal's Mary Kathleen Flynn the reason for this is that many portfolio companies are trading at deep discounts and sponsors are finding that it is hard to buy companies in new deals due to the state of the market. Less