Credit/Special Situations
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 ТЃ75m.
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...
UK - New corporate recovery fund launched
NorthEdge Capital, a new corporate recovery fund targeting distressed businesses, has been launched by four financiers, previously partners at HBOS, PwC and Lloyds TSB Development Capital.
SPAIN - N+1 decides against distressed fund
N+1 has decided against raising a EUR 300m fund for distressed assets, citing possible conflicts of interest with its corporate finance division.
ITALY – DGPA launches EUR 100m distressed fund
DGPA SGR has launched a EUR 100m fund aimed at investing in distressed non-listed SMEs in Italy.
ITALY – LIA and Mediobanca to raise $500m special situations fund
According to sources, the Libyan Investment Authority and Mediobanca are planning to launch a new joint fund of up to $500 million designed to take stakes in distressed Italian firms.
UK - Alchemy considering new distressed debt fund
Reports suggest that Alchemy Partners is contemplating launching a second fund targeting distressed debt and special opportunities.
UK - More funds for distressed debt
The amount of capital raised by private equity for funds investing in distressed debts is to set to top last years record total, according to reports.
CEE - Ashmore launches fifth global special situations fund
Ashmore has launched its latest emerging markets special situations fund, Ashmore Global Special Situations Fund Five.
UK - ICG plans to raise £1bn for new recovery fund
Intermediate Capital Group is planning to raise ТЃ1bn for a new recovery fund designed to buy leveraged loans that banks provided for deals and are now selling at a discount to face value.
SPAIN – Nomura launches turnaround fund in Spain
Japanese investment bank Nomura has launched Thesan Capital in Spain, a private equity house specialising in turnarounds.
FRANCE - Vermeer Capital closes distressed fund on EUR 75m
Vermeer Capital has held the first closing of its maiden fund of the same name on EUR 75m. The fund will focus on turnarounds of distressed companies. The closing is shy of the EUR 90m hard cap which the next closing is expected to be near to.
SPAIN – N+1 to launch a EUR 300m special situations fund
It is believed that N+1 could launch Spain’s first special situations fund later this year, targeting EUR 300m.
UK - Endless closes fund on £164m
Endless LLP has reached the first and final close of its new investment vehicle, Endless Fund II, with commitments totalling ТЃ164m. This is in excess of the firmтs original target of ТЃ120m. The close heralds the establishment of the first institutionally-backed...