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Andrew Hedlund

Andrew Hedlund is the Americas Editor at Private Debt Investor where he reports on the private debt market and coordinates coverage of the asset class. Before joining PDI, he reported on corporate bankruptcies for The Deal and Reorg Research, two financial trade publications. Andrew received a master's degree from Northwestern University’s Medill School of Journalism. He also earned bachelor of arts degrees in from Arizona State University.
The Los Angeles-based distressed debt shop turned its pre-bankruptcy debt into 92.5 percent of the reorganised business’ equity.
The New York-based collateralised loan obligation manager will also be launching a new fund in the first quarter of 2017 after a sale of the firm to FAB Partners largely removed uncertainty regarding the firm’s future.
Jim Failor, a hire that came from within the Sonoma County Employees’ Retirement System, told Private Debt Investor he had been a de facto CIO for several years.
As the private mid-market debt asset class grows, choosing the right lending partnerships and financing diversification are uppermost in the minds of some of the market’s leading operators.
The fund, which will pursue investment opportunities in the US and Europe, will likely hold a final close by year-end.
Jim Hunt, the firm’s mid-market lending head, exited the Los Angeles-headquartered investment firm just eight months after joining.
Sources have told PDI that sponsors are seeking more favourable terms in credit agreements. 
 An advisor in court in June said a contribution from the two financial institutions to fund a restructuring proposal for Caesars Entertainment Operating Company was possible.
Lone Star purchased the mortgages at issue from the Department of Housing and Urban Development.
The Purchase, New York-based investment shop plans to roll separately managed accounts into a commingled distressed fund.
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