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Category: Distressed

European M&A seals impressive Covid recovery in Q3 as PE firms put large dry powder reserves to work

European M&A activity has scored a sharp recovery from near-decade lows caused by the coronavirus crisis - but annual figures are still trending towards their worst result in years, new research shows.

Virginia pension commits to HIG Europe distressed fund, new $7.5bn GTCR vehicle – report

The $83bn-managing Virginia Retirement System has committed more than $300m across a pair of private equity funds, including GTCR's newly-closed $7.5bn Fund XIII.

TPG, CPPIB invest another $500m in Viking Cruises as company attempts to navigate Covid woes

TPG Capital and the Canada Pension Plan Investment Board have made another $500m investment in Viking Cruises as the company looks to navigate the trying times caused by the coronavirus crisis.

Cerberus Capital Management said to eye $3bn for latest flagship distressed buyout, debt fundraise

Distressed investment specialist Cerberus Capital Management is reportedly eyeing up to $3bn for its latest flagship fundraise.

Värde Dislocation Fund closes on $1.6bn

Credit and distressed specialist Värde Partners has held a final close for its Värde Dislocation Fund on $1.6bn, exceeding its $1bn target after five months on the road.

Värde Partners races to $1.6bn Covid dislocation fund close in just five months of virtual fundraising

Credit and distressed investment specialist Värde Partners has hauled in a target-busting $1.6bn for a new Covid-19 dislocation fund, just a year after raising its biggest-ever flagship buyout fund.

GPs must embrace proactive portfolio management tools now, or be left behind

As the coronavirus crisis continues to rage across the glove, private equity investors are being forced to think more carefully about managing their existing portfolios amid a volatile dealmaking market. AltAssets spoke to Eaton Partners'

Preparing for the turnarounds wave

While advisers readied themselves for a wave of distressed opportunities off the back of the coronavirus crisis – and GPs anticipated a shift in LP allocation strategies – the turnarounds surge has failed to materialise.

A post-coronavirus pandemic debt crisis is unlikely but there will be economic pain

The short-term economic outlook remains worrying worldwide, particularly for borrowers at the lower end of the credit scale or in the industries hit hardest by Covid-19 restrictions. But a large-scale debt crisis may not be

Sponsor-lender relationship faces stiff Covid-19 test

GPs' relationships with their existing banks and debt funds became crucial to navigating challenging liquidity situations and potential covenant breaches in Q2, and will be even more important in managing the ongoing consequences of the

Download the November 2020 issue of Unquote

This month in Unquote: The much-anticipated wave of distressed opportunities has failed to materialise so far, but market participants are still readying for an uptick

Comment: Don’t overestimate the coronavirus recovery

At this point in the Covid-19 crisis, governments have only one good option: further aggressive fiscal stimulus complemented by coherent virus-containment strategies

VC-backed Getnow files for insolvency

Munich-based online supermarket Getnow, which is backed by investors including Germany-based IMS Capital Partners, has filed for insolvency, according to a filing with the Munich District Court on 26 October 2020.

German PE assesses opportunities in crisis

Panellists from Nord Holding, LFPE, Mandarin Capital Partners and Allen & Overy discussed the role of private equity in the current deals landscape at Mergermarket's Germany Forum. Harriet Matthews reports

Nordian Capital completes J-Club acquisition

Nordian Capital has acquired a majority stake in accessories producer J-Club; the GP intends to draw a line under the dispute that saw Nordian attempt to pull out of the deal as the coronavirus crisis

Guitar Center is preparing for a possible bankruptcy filing.

It’s still possible that Guitar Center could avert bankruptcy, as it did earlier this year.

Amanda Staveley vs Barclays: the drama that unfolded

The case, which finished last week, gave the public a glimpse of the scenes behind the deals that were made at the height of the global financial crisis

Auerbach Funds strikes first close for $100m-targeting distressed, underperforming asset real estate fund

Auerbach Funds has hit a first close for its $100m-targeting third real estate private equity fund.

US VC exits surge to huge quarterly total despite Covid uncertainty, fundraising on track for record year, new research shows

US venture capital exit activity has hit its second-highest value ever recorded despite global volatility in recent months due to the coronavirus crisis, new research shows.

Värde Partners continues succession moves by naming new president, deputy CEO

Credit and distressed investment specialist Värde Partners has unveiled the latest step in its succession plan by naming Jon Fox as president and Andy Lenk as deputy CEO.

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