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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.
The firm, known for its private equity investments, is now entering into speciality finance through its newly built structured credit team.
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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