Distressed & special situations

Will there be a horde of UK zombies?

Tough times may lie ahead for the UK – but will expectations for distressed activity be realised this time?

Opportunistic credit finds favour as distressed loses its appeal

Several big hitters are now in the market with ambitious opportunistic credit strategies, hoping to capitalise as LPs turn away from conventional distressed plays. So, what has prompted this change of tack?

Arrow Global: Staying local for diversified investment opportunities

There are opportune markets available for experienced local lenders, say Arrow Global’s Toni McDermott and Richard Roberts.

Zetland Capital: Capturing European dislocations in a new macro environment

Special situations investing in Europe is changing, says Ahmed Hamdani, founder and managing partner at Zetland Capital.

Dai-ichi invests more than $1.5bn for Canyon Partners deal

The majority of the giant Japanese life insurance group’s investment is as an LP; it also takes a 19.9% stake in the credit-orientated manager.

Structured investments emerge as distinct commercial real estate asset class

The commercial real estate market, which has been in a value correction cycle for the past two years due to higher interest rates and cap rates, will see this correction continue until interest rates settle.

Oaktree’s Marks: ‘isolated issues’ but no systemic risk

The industry veteran doesn’t believe private credit will bring down the system, but some managers will struggle in a higher-rate environment, he told attendees at PEI Group’s NEXUS 2024 summit.

Refinancing: Is the maturity wall a myth?

New research found just 10-15% of mid-market private credit loans are scheduled to mature in the next two years.

The arsenal of distressed debt violence

Distressed pre-bankruptcy firms are using workarounds that allow some final-reprieve liquidity and offer risk-tolerant lenders opportunities.