Distressed & special situations

Strategy guide: Capital structure

The ways in which lenders evaluate their capital structures are being scrutinised by LPs when deciding between opportunities in this competitive segment of the market.

Strategy guide: Portfolio construction

Diversification across sectors and asset classes is a key consideration for opportunistic and distressed credit managers, but approaches to portfolio construction differ depending on allocator appetite.

Strategy guide: Regulation

Regulatory and legal considerations should be embedded in underwriting from the outset – particularly when operating across multiple jurisdictions.

Distressed opportunities abound but investors remain selective

Geopolitical turmoil, higher interest rates and the impending maturity wall are causing a surge in appetite for opportunistic and distressed debt.

Barings: How capital solutions looks beyond traditional lending parameters

There is a growing cohort of companies that don’t fit neatly within the direct lending or asset-based finance markets. Capital solutions can offer an alternative path, says Barings’ Michael Searles.

Real estate lenders gear up for special situations opportunity

The distressed opportunity set is driven in part by an estimated $936bn of loans slated to mature in 2026.

Strategy guide: Investor reporting

Standardisation may be a challenge in opportunistic credit and distressed debt, but LPs recognise the value of transparency.

Strategy guide: Restructurings

Distressed debt investing has never been an easy space to navigate. Our nine-part investment guide begins with a look at how restructuring techniques are being introduced to the market.

Arizona state pension cuts projected returns out of private credit

Even while maintaining allocation targets for the asset class, the $63bn system is lowering its assumed return to reflect a more competitive environment for credit funds

Which strategies do LPs most demand in 2026?

We take an in-depth look at LP demand for private credit strategies, with several rising in popularity while others go out of favour.