WEEKLY THOUGHTS

Here is something that caught our eye this week: Context is King We have been thinking recently about the limits of algorithmic decision-making. In the last 24 months, Chenmark has acquired six operating companies. Each boasted a minimum ten-year track record of consistent revenue growth and profitability and in each case either the entire management team stayed on board or we facilitated the hiring of a talented CEO eager to lead the next stage of the company's development. However, these transactions are structured as asset sales which, while appealing from a liability management perspective, requires the creation of a new