Much of the recent history of distressed debt fundraising has been about anticipating demand that never came. This reached its apotheosis in 2020 when a huge amount of dry powder was still waiting to be deployed from the peak fundraising years of 2017 and 2019. In the event, distress – and its close relative dislocation – proved to be a short-lived phenomenon.
Distressed debt fundraising: The key numbers
PDI looks back on capital accumulation in recent years, as investor anticipation grew – sometimes without reason
