Distressed Debt

Illustration of an upward-pointing arrow behind a pile of gold coins. source

TPG holds $6.2bn final close on third special sits fund

The fund, launched in 2023, exceeded s $4.5bn target, and will focus on both public and private firms.

Bank of England confirms private market stability test details

The UK’s central bank has published details of its upcoming stress test of private credit markets and confirmed some of the firms taking part.

European unitranche activity steady in Q3

Debt funds continue to lead the market, says Houlihan Lokey’s midcap monitor.

Arcmont surfs the direct lending refinancing wave

Capital solutions heads Alice Cavalier and David Brooks are thinking beyond short-term cycles to support business that are 'unloved... but good credits'.

About this page

Distressed debt is always one of private debt’s most popular strategies but, in 2022, it’s attracting more attention than usual. Financial support offered by governments during the covid pandemic is being withdrawn, inflationary pressures are set to take their toll on company balance sheets, and many firms are struggling with staff shortages. In this environment, stress is likely to emerge and the low default rate seen in recent years will almost certainly rise. Given these factors, we are doubling down on our coverage of distressed debt and offer our readers the opportunity on this page to explore key stories, news analysis and features.

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