Credit/Special Situations
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.
Recovery fund: releasing the shackles of debt
ICG’s new recovery fund specifically supports companies chained down by over-leverage, rather than loss-making businesses that require a complete turnaround. Francinia Protti-Alvarez investigates
ADM holds first close of CEE Recovery Fund on €100m
ADM Capital has held a first close of CEECAT Recovery Fund on €100m. The fund will invest in Central and Eastern Europe, Central Asia and Turkey.
Neuberger Berman to launch distressed debt fund
Private Equity investor Neuberger Berman, plans to launch NB Distressed Debt Investment, a fund targeting asset-backed senior debt.
ICG closes recovery fund on €843m
London-based alternative asset investor Intermediate Capital Group (ICG), has reached the final closing of its €843m ICG Recovery Fund.
Better Capital acquires Reader's Digest UK for £13m
Better Capital has completed a second acquisition; the management buyout of the UK business of Reader's Digest in a transaction valued at £13m, which secures the future of the business.
Osmond's Horizon Acquisition makes £418m LSE debut
Hugh Osmond, the man behind such ventures as Pizza Express and Punch Taverns, launched his investment vehicle on the London Stock Exchange yesterday, managing to raise £418m to invest in distressed companies.
UK/US - Marathon holds $400m first close on US toxic asset fund
London-based Marathon Asset Management has held a $400m first close of its public-private toxic asset fund, an initiative engineered by the US government to buy up troubled assets from banks that has so far seen $5bn raised by eight seperate fund managers.
US/EUROPE - Oak Hill closes distressed debt fund on $1.13bn
Oak Hill Advisors has surpassed the firm's $750m target for its OHA Strategic Credit Fund, holding a final close on $1.125bn.
UK - Kelso to launch new turnaround opportunites fund
London-based Kelso Place Asset Management has announced the launch of The UK Special Situations Fund IV, a new fund for turnaround opportunities in the UK targeting £75m.
EUROPE - Marwyn to launch recovery fund on SFM
Investment and advisory group Marwyn intends to launch a UK-based recovery fund on the Specialist Fund Market (SFM) of the London Stock Exchange, The Marwyn Alternative Capital Fund, which will be aimed at businesses suffering depressed valuations as...
