Distressed & special situations

The fund continues to seek additional capital to reach its $2.1bn target.

Sources say the firm is on the road with its second fund having almost fully invested its first vehicle.

Of the attention-grabbing moments at this week’s DACH Forum, the suggestion that investors lean into risk raised the most eyebrows. We bring you a summary of the event’s major talking points.

LPs, some of which are hitting upper bounds of direct lending exposure, are turning to income-generating strategies like royalties, receivables and sale-leasebacks, says Conrod.

The average time spend fundraising for credit fund strategies has generally risen during the 2020s.

Attendees and panelists at the New York Forum saw increased opportunity for the strategy.

The manager purchases a $2bn portfolio of loans to over 300 businesses at a fraction of their original cost.

State’s pension consultant Meketa recognises problems underlie default headlines, but notes private credit is ahead of public markets in working through the cycle.

The firm’s third vintage in its Asia credit strategy is thought to be targeting $1bn.

Judge Lopez sees ‘no doubt that there is cause to convert’ as there is no going concern to reorganise.