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distressed & special situations

More than half of the participants in Accord Fund III B are new to the strategy.
Bruce Flatt, CEO of Brookfield Asset Management, said the three-to-five-year outlook for its credit partner Oaktree Capital is “much better today than it looked eighteen months ago.”
A new report from bfinance predicts capital raised by credit fund managers may grow this year on the back of an increase in distressed and opportunistic approaches.
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The firm, known for its private equity investments, is now entering into speciality finance through its newly built structured credit team.
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These two strategies are the only alternative asset classes in which interest grew compared with last year, according to a report by Probitas Partners.
Apollo’s private equity portfolio depreciated by 21.6%, with several vehicles across the platform facing clawbacks.
The surge in non-performing credit this year due to corporate defaults will not necessarily translate into investment opportunities amid covid-19.
Treabhor Mac Eochaidh, head of debt services at MUFG Investor Services, says improving legal and tax frameworks are driving investor interest in Asian credit.
The London-based fund manager’s second fund, focused on asset-backed opportunities, has a final target of €850m with a cap of €1bn.
Lenders are shifting towards stable assets amid coronavirus-led disruptions.
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