Invesco raises more than USD 700m for distressed debt, special situations investments
Invesco Credit Partners III has yet to hold a final close and has already surpassed the size of its predecessor

Oaktree lowered its distressed debt fundraise to USD 16bn
The market and investment environment for distressed debt shifted, and investors asked whether the original target was too big.

Funds roundup: June 2024
Private credit funds keep getting larger — some reaching billion-dollar status — while demand for niche solutions, such as interval funds and special situations, continues to escalate

SFERS commits another USD 75m to private credit
The San Francisco City & County Employees' Retirement System's latest commitment to private credit comes in the form of a USD 75m allocation

Indian manager raises nearly INR 25.75bn for credit opportunities fund
A Mumbai-based manager held a final close on its new special sits fund with INR 25.75bn raised

Avenue Capital raises billion dollar European special situations fund
New York-headquartered Avenue Capital Group held the final close of a new European special situations fund with more than USD 1bn in commitments

Experienced credit analyst leaves Bain's distressed team in London
Bain has been one of the most active asset managers in the distressed credit space in recent years, but sources say that it has suffered  a setback with an experienced credit analyst said to have left in recent weeks

Pimco casts an eye on mid-market loans for new $1 billion credit fund
Fresh details have emerged on a new corporate credit fund being launched by Pimco, which sources say could reach $1 billion.

Former UBS big hitter steps backs from role at Sound Point
A credit industry veteran, who served as a leading figure at UBS, has parted company with New York-based Sound Point Capital Management where he was a portfolio manager

Pension funds allocate to new KKR direct lending and distressed funds
It may be late in the year but KKR Credit is making progress in its bid to launch second generation credit funds.

Octagon launches its first fund to target distressed and structured credit
Long-time CLO manager Octagon Credit Investors has this month diversified its business by launching a new commingled credit fund.

Calpers joins US pension fund charge towards distressed debt
US pension funds continue to put money to work in distressed debt strategies with California Public Employees' Retirement System among the institutions that are allocating towards new distressed funds

Miami manager earns $50 million for new mid-market loan fund
A credit manager has earned $50 million from a regular client for a mid-market credit fund

Large credit manager raises $700 million for new distressed debt fund
A large credit manager has been highly productive in the last month after adding a $1 billion-plus CLO to its collection and holding a first close of $700 million on a new special situation fund

Self-help boosts distressed credit
Corporate distressed credit hedge funds posted strong returns again in November, as managers branched out from their core strategy

Default rate falls dramatically
Defaults amongst corporates and financials noticeably slowed in September, and increased only mildly in October

Bondholders say Wind Hellas is trying to wipe them out
Bondholders in a Greek telecoms company are furious over what they see as the company’s efforts to subordinate their interests to those of equity holders

Growing consensus sees lower default peak
Goldman Sachs, JP Morgan, Fitch and Moody’s have all recently lowered their high yield default projections

New global default rate measure shows negligible corporate defaults
New global default rate measure shows negligible corporate defaults

Analysts raise default predictions
Analysts raise default predictions

Distressed buyers make gains on financial bonds
Distressed buyers make gains on financial bonds

Telecoms and retail dominate defaults
The total defaulted debt in February was nearly $21.3 billion. This compares to January's total of $14 billion after the defaults of Qimonda, Smurfit-Stone and Contech late in the month. So far in 2009, telecoms and retail have seen the largest total defaults. At the time of going to press, the largest default in February was that of retailer Spectrum Brands, which filed for chapter 11 on 3 February, with $4.4 billion outstanding.