Distressed funds call on Conversus

As unfunded commitments are looking harder to meet, the Euronext-listed fund of funds is receiving increased calls from its managers of distressed funds.

Listed fund of funds Conversus Capital has seen a “substantial” increase in capital calls during the third quarter 2008 as a result of increased activity from special situations and distressed debt funds.

“Our capital calls increased substantially over prior quarters, driven by the opportunistic purchases by special situation and buyout funds of performing and distressed debt,” said the firm in its interim financial results statement.