Lenders of Software Firm Ivanti Form Minority Group, Tap Lawyers

Some term loan lenders to Clearlake Capital Group-backed Ivanti Software have formed a separate creditor group and hired legal counsel, according to people familiar with the situation.

• Those lenders have engaged Glenn Agre Bergman & Fuentes for advice, said the people, who asked not to be identified discussing a private matter
  • They added a group of lenders previously organized with law firm Davis Polk & Wardwell
• Messages left with Ivanti, Clearlake, co-sponsor TA Associates, Glenn Agre and Davis Polk were not returned
• Ivanti’s debt has dropped in price amid a prolonged earnings rut, some of the people said
  • Its first-lien ...