Credit/Special Situations
Turnaround deals hit five-year low
Turnaround deals
OCP Special Situations Fund holds first close at £6m
Oakfield Capital Partners (OCP) has held a first close at £6m for its vehicle Oakfield UK Special Situations Fund, targeting £20m.
Cerberus closes fifth fund on $2.61bn
Cerberus Capital Management has raised $2.61bn for CIP V, a fund focused on turnarounds and distressed situations, according to reports.
Mittel and Roland Berger launch Italian turnaround initiative
Italian investor Mittel Management has announced the launch of a vehicle seeking turnaround opportunities in Italy, in partnership with Roland Berger Strategy Consultants.
TowerBrook closes fourth fund on $3.5bn
TowerBrook Capital Partners has held a final close for its fourth buyout fund, reaching its $3.5bn hard-cap.
PHD Equity completes MBO
PHD Equity Partners, the private equity arm of Dow Schofield Watts, has backed the management buyout of lending company Davenham Group.
EQT Credit II hits €376m
Swedish private equity house EQT has raised €376m for its second credit opportunities fund, according to reports.
Blackstone raises $834.8m for new listed debt fund
The Blackstone Group has raised $834.8m in the IPO of its new closed-ended debt vehicle GSO Strategic Credit Fund.
Hamdani and Priston join Bayside
HIG Capital’s distressed debt and special situations affiliate, Bayside Capital, has hired Ahmed Hamdani and Duncan Priston for its London team.
Partners Group closes debt fund on €375m
Partners Group Private Markets Credit Strategies 2012 has held a final close on €375m.
Patron hits €880m for fourth fund
Patron Capital Partners has reached a final close on its fourth fund at €880m.
SSVP III closes on €231m
Orlando Management AG has announced the final close of its latest fund, Special Situation Venture Partners III, on €231m, €31m over target.
Endless closes third fund on £220m
UK turnaround investor Endless has closed its latest vehicle on £220m.
Former Austrian chancellor launches private equity firm
Former Austrian federal chancellor Alfred Gusenbauer, entrepreneur and adviser Andreas Frech, M&A Corporate finance specialist Alon Shklarek and lawyer Leopold Specht have launched Cudos Group.
Capital Management Partners closes fund on €175m
German mid-cap investor Capital Management Partners has closed its CMP German Opportunity Fund II on €175m.
KKR appoints European head of special situations
KKR has appointed Mubashir Mukadam as its European head of special situations.
Spain welcomes Extremadura Avante
The founders of private equity firm Extremadura Avante have applied to Spain’s Comisión Nacional del Mercado de Valores to approve its creation.
Perceva Capital raises €150m
French special situations investor Perceva Capital has raised €150m for its latest fund.
Sherpa Capital launches €30m distressed fund
Sherpa Capital has launched a €30m fund specifically designed to support companies undergoing distressed situations.
Turnaround investments: A waiting game
With the UK economy sliding into recession at the beginning of last year, many expected 2010 to be the year of turnarounds. So far though, the flurry of deals has not materialised. Greg Gille investigates
Alchemy holds first close at more than £280m
Alchemy Partners has held a first close at just over £280m on its second fund that is looking to invest in financially distressed European companies.
Better Capital prepares for new £65m capital raise
Better Capital is gearing up to raise a further £65m for its distressed business fund.
Neuberger Berman raises $197.2m for listed NB Distressed Debt Investment Fund
Neuberger Berman has raised $197.2m for its closed-ended NB Distressed Debt Investment Fund Limited at a price of $1.00 per ordinary share by means of a placing and offer of subscription for ordinary shares and a bonus issue of subscription shares on...
Morgan Stanley’s secondaries fund exceeds $500m target
Morgan Stanley's Global Secondary Opportunities Fund, has raised $585m, exceeding its $500m initial target.
