Tag:
Distressed Debt
Latest Headlines
Latest Headlines
BlackRock Solutions' big success stokes worry
We've noted that there are a handful of firms whose stature has actually risen during the credit crunch. Along with JPMorgan Chase, BlackRock is near the top of everyone's list. Bloomberg reports, "In the unfolding credit crisis, BlackRock Solutions has become the dominant player in evaluating
Another feeder fund charged in Madoff scandal
Are the dominoes starting to fall in the Bernard Madoff scandal? First his accountant was charged. Now, a second feeder fund is finding itself in the cross-hairs. New York's Andrew Cuomo has accused J. Ezra Merkin "of concealing his links to Madoff and lying to investors about what he was doing wi
Goldman Sachs PE fund to focus on debt
We've noted that a lot of private equity funds have no choice but to shift their emphasis to distressed debt. The latest: Goldman Sachs' $15 billion PE fund is asking investors for approval to target debt with the invested portion of the fund. Goldman faces some thorny issues.
The Financial
Top PE firms to develop banking expertise?
"We can adapt, be part of the solution, or fold up our chairs and exit stage left," said none other than Henry Kravis. But adapting in the private equity industry today means a kind of reverse evolution, really. Many firms will evolve into managers of distressed debt, corporate lenders and very lo
Perspective on the private equity bloodbath
It's not news that the private equity industry has been battered by the credit crisis. TheDeal.com puts some perspective to the carnage; it notes S&P data showing that 218 companies with private equity and venture capital funding filed for Chapter 11 protection in 2008, up 86 percent from
Hedge funds in layoff mode
It's hardly surprising that hedge funds are in layoff mode. Headhunters say it's unclear how deeply hedge funds will cut, and many of the layoffs have been enacted stealthily. IDD reports that many funds have already reduced non personnel costs, notably on travel, but head count remains the mo
Hedge funds on a hiring binge?
We've noted before that lots of laid-off bankers, traders and analysts will have trouble finding a job. Some will have to transition into a new line of work. The lucky ones will find work in the alternative investments universe. And right now, there is reason for hope. The Financial Times repo
Oaktree raises massive distressed debt fund
We've noted that valuations have improved for some on-the-brink debts as of late, notably leveraged loans and some credit default swaps. The trading psychology seems to be improving in part because of the massive bets that private equity firms and hedge funds seem to be making on distresse
Lehman Brothers raises $3 billion
So who invested in Lehman Brothers ? That's the big question. All we know is that Lehman intends to raise $3 billion from American institutions, not sovereign wealth funds. The move is necessary, given the recent anxiety that the company was another Bear Stearns waiting to happen. That does no
How much private equity blood will spill?
Blackstone Group's 90 percent plunge in first quarter profits sent another shudder down the spine of the private equity industry. The Carlyle Group's credit fund woes certainly aren't helping things, either. The New York Times suggests that all the top funds are reeling. This brings up the Fre
