This capability invests in distressed debt and special situation opportunities. Using specialist legal and accounting skills within the investment team, we aim to realise full value from these investments.
Our value-led approach seeks to generate high returns by taking issuer-specific credit risk, rather than broad market risk.
Distressed debt investing often means purchasing the deeply-discounted debt of commercially viable but over-leveraged companies, right-sizing the companies’ balance sheets through debt restructuring, and actively managing them back to full financial and commercial health.
Special situation investing mostly involves purchasing real assets in lightly-competed transactions, often from forced sellers at a discount to market price, and creating value by developing the assets, or providing financing to companies or management teams with a track record in a specific sector, to help them execute a material growth strategy.
Our team is one of the largest and most experienced in Europe and has undertaken more than 300 restructurings since its establishment in 2005.