Distressed & special situations

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.

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

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

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.

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

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

Joseph Goldschmid and Christopher Kenny of Oak Hill Advisors explain how they are seeking to find the best opportunities in a growing special situations market.

There were 11 private credit defaults in January and 89 in the trailing 12-month period.

The Nuveen affiliate has collected €1.5bn for the second version of the strategy, which targets complex credits.

The CIO has reassured the board that the pension is ‘not in a hurry’ to add private credit exposure, despite planning a new programme for the asset class.