distressed & special situations

The New York-based firm’s second multi-strategy credit fund is more than 45% invested, Private Debt Investor has learned.

Timeframes for taking advantage of dislocation opportunities following crises have compressed, according to David Allen of AlbaCore Capital Group. Those who reacted fastest after the initial wave of the pandemic were rewarded most.

The special situations fund will seek out market dislocation across Europe.

The firm’s strategy has been mainly focused on public market volatility this year, though it has done some large private deals as well.

Distressed debt firms will be hoping to win big in our awards, which were launched this week. But some warn that LPs could lose out if the opportunity set is delayed much longer.

The fund will invest in opportunities arising from covid-related economic disruption and market dislocation.

Fund launched after the pandemic hit will have a flexible mandate to invest in opportunities created by economic disruption.

Liability management transactions are undertaken by companies to restructure liabilities on their balance sheets. Bryan High of Barings, Mark Liscio of Freshfields and Sanjeev Khemlani of FTI Consulting explain their current popularity.

Staff at the $207.8bn system have said that distressed debt opportunities following the covid crisis could be unprecedented.