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Category: Distressed

Marquee Brands Acquires Sur La Table

Marquee Brands and CSC Generation have agreed to acquire the Sur La Table brand and all of its related intellectual property for $88.9 million. Seattle-based Sur La Table (French for “on the table”) is a

Sixth Street hits mammoth $22.5bn for flagship fund after reopening vehicle to investors amid Covid opportunity: WSJ

Former TPG credit arm Sixth Street Partners has reportedly brought in another $10bn for its nine-year-old flagship fund after it re-opened the vehicle amid huge opportunities thrown up by the coronavirus crisis.

Brookfield hauls in $23bn in best-ever fundraising quarter, including $12bn for mammoth private debt fund

Brookfield Asset Management has raised $23bn in its best-ever quarter for fundraising as capital continues to pour in to its huge distressed debt vehicle.

Andera Partners back with second fundraise of Covid-19 crisis, said to eye up to €450m

French investment house Andera Partners is reportedly out targeting up to €450m for its biggest-ever fund, hot on the heels of closing a €500m-plus mezzanine fund in June.

Bob Diamond: Only ‘leanest’ banks will survive pandemic

The executive, who ran Barclays during the global financial crisis, sees a future of stripped-down banks outsourcing non-core business lines — and is wary of them being turned into public utilities

Moira Capital makes ‘enhanced reality’ software pioneer Voovio its latest deal since Covid-19 outbreak

Spanish private equity house Moira Capital Partners has made its third deal since the start of the coronavirus crisis by buying into 'enhanced reality' software business Voovio.

Liquidity crisis avoided – now to dodge the solvency crisis

Sovereign and corporate debt has rocketed during the coronavirus pandemic, as liquidity became the essential plaster to cover the almost overnight collapse in consumer spending. European treasurers might be tempted to spend 2021 shying away

MiddleGround Buys Automotive Supplier

MiddleGround Capital has acquired majority ownership of Dura Automotive Systems from Bardin Hill Investment Partners. The buy of Dura is MiddleGround’s sixth platform acquisition in its first fund which closed in August 2019. Dura Automotive

Family offices give VC vote of confidence amid Covid-19 crisis – but returns expectations prove surprising

Family offices are sticking with venture capital despite the growing coronavirus crisis - but their expectations of returns threw up a surprising result, new research shows.

Embattled Jain to restructure dollar debt

Indian agricultural company Jain Irrigation Systems, which has been navigating a liquidity crisis for more than a year, has put in place two restructuring plans for its onshore and offshore debt.

Global economy at risk of repeating mistakes of the 2008 financial crisis

Avoiding policy errors of the 2008 economic meltdown should be a top priority, says Mohamed El-Erian, chief economic adviser to Allianz

Alvarez & Marsal Adds Aerospace and Defense Pro

Alvarez & Marsal (A&M) has added James Marceau as a managing director in its private equity performance improvement group. Mr. Marceau will be active within A&M’s aerospace, defense and aviation practice and will be based

Riverstone’s $1.8bn Fieldwood Energy investment put at risk by bankruptcy

The energy company, which US-based Riverstone first backed in 2012, sought chapter 11 protection last week for the second time in two years

BGH Capital agrees cut-price Village Roadshow buyout in wake of coronavirus shuttering

Australian theme park and cinema operator Village Roadshow has agreed to a cut-price offer from BGH Capital as it looks to recover from the impact of the coronavirus crisis.

“The industry’s biggest challenge”: How PE-owned restaurants must respond to the Covid-19 downturn

Veteran investor Paul Campbell on how the casual dining sector can emerge from the pandemic-induced crisis

ICG launches second recovery fund

Intermediate Capital Group (ICG) has launched a second recovery fund, ICG Recovery Fund II, to invest in companies hit by the coronavirus crisis.

How the crisis could affect fund T&Cs

GPs might seek to offer more attractive fund terms to incentivise LPs in the current climate, a global financial crisis. But what form might such incentives take, and are GP/LP relations likely to be affected

Private equity execs bullish on 2020 dealmaking, more portfolio company support – survey

Private equity firms remain bullish on their portfolio investments despite the widespread chaos caused by the coronavirus crisis, new research suggests.

Private debt funds set to deliver worst performance since the global financial crisis

Meanwhile, global direct lending is on pace for its slowest year since 2015 in terms of capital raised

Can a slew of pandemic-focused private debt fundraises slow the sector’s fundraising decline?

Private debt fundraising is on pace for its slowest year in half a decade - but will a surge of newly-launched opportunistic vehicles hoping to profit from the coronavirus crisis turn those numbers around?

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