Distressed & special situations

Akoustis, a wireless tech concern, enters bankruptcy

Under a decision by the Third Circuit appeals court, Akoustis may have to pay post-petition interest to debtors.

H.I.G. Capital closes $1bn opportunistic credit fund

The European distressed and special situations credit fund was smaller than its predecessor.

Arrow Global: Banks seek out partners for European NPLs

Today’s market is characterised by optimisation by banks of their balance sheets in the face of changing capital and provisioning rules, with private credit stepping in to fill the gap, says Toni McDermott, credit and lending CIO at Arrow Global.

Private debt defaults: What lies beneath?

Headline default rates in private debt may be just the tip of the iceberg, with plenty of other dangers lurking in the dark below the surface.

Bain Capital closes on special sits fund on $5.7bn

The latest fundraise beats its target and brings the second vintage of the strategy to $9bn.

TPG raises $1.8bn for third special sits fund

The fund is said to seek $4.5bn; LP commitments include the Rhode Island State Treasury and Vermont Pension Investment Commission.

Black Diamond sues for control over Del Monte

Loan originator acts on behalf of as-yet unnamed lenders, in response to J Crew style restructuring.

Russell launches private debt fund of funds for professional investors

The fund will offer access to an initial group of seven private debt funds through an evergreen structure with quarterly liquidity.

DOWNLOAD: Fundraising sees Q3 revival

Fundraising bounced back in Q3 with average fund size continuing to increase, according to the latest PDI Fundraising Report.

Survey: Private credit secondaries’ surge has not yet come

Campbell Lutyens also finds concerns among investors that private credit is growing too quickly.