Credit/Special Situations
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...
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.