

An in-depth look at the key trends reshaping the opportunistic credit space
Distressed debt and opportunistic credit strategies are at a significant developmental crossroads, with fundraising down year-on-year but opportunistic vehicles seeing a recent boost. In this special report we explore five developments market players expect in coming months, sharing their outlook for rising defaults and changing interest rates, the rise in co-operative agreements and asset-based lending strategies, and how LP appetites are changing.
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PREVIOUS COVERAGE
From higher interest rates to challenges in commercial real estate, a host of factors have conspired to push more borrowers into financial distress in recent months. And with a significant maturity wall looming, investors in the evolving opportunistic credit and distressed debt space could be ideally positioned to step in.
Opportunistic credit finds favour as distressed loses its appeal
10 key trends: Higher-for-longer interest rates
10 key trends: ‘All-weather’ approaches
10 key trends: The commercial real estate opportunity
10 key trends: The looming maturity wall
10 key trends: Bank capital releases
10 key trends: The shape of European stress
10 key trends: Changing dynamics in US credit
10 key trends: Asia-Pacific’s distressed bonanza
10 key trends: The rise of credit secondaries
10 key trends: Difficult questions for distressed
Will there be a horde of UK zombies?
Allen & Overy: The growing role for CLOs in restructurings
Data: Distressed fundraising driven by economic cycles
Sculptor Capital Management on the benefits of casting a wide net
Why the struggling, high-quality firm is not a contradiction
Arrow Global: Staying local for diversified investment opportunities
Kartesia: Private debt offers the necessary flexibility in times of stress
Alter Domus: Opportunistic credit is ready for action
Barings on taking an all-weather approach to opportunistic credit
WeWork: A former unicorn in a real-world bankruptcy
Permira: Leveraging a broad platform
LCM Partners: The value of a steady hand
Zetland Capital: Capturing European dislocations in a new macro environment
The distress and special situations market has seen plenty of false dawns, most recently when the covid pandemic offered only a brief rather than long-lasting opportunity. But with a “higher for longer” interest rate environment and a refinancing wall that may take a couple of years to manifest itself, this time might be different.
Macroeconomic trends such as covid-19 and the Ukraine crisis are fuelling a return to distressed debt investing. But just how will that play out? This special report looks to analyse the key trends facing the sector and what investors are really looking for.
Distressed debt remains one of private debt’s most popular strategies with investors, but it’s also one that demands perfect timing. Get it right and rich rewards beckon, but get it wrong and investor unrest won’t be far away. We explore all the key themes in a series of articles
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