"We see about $2.5 trillion in credits made up primarily of
leveraged loans," Curis offered. "That compares with about $70
billion [that has] been raised for distressed investing. We see an imbalance
between the supply of opportunities compared with the amount of
capital available for investment."
In spite of this, Curis
still thinks that distressed investors need to be cautious. "A key
challenge for distressed funds is not getting in too early," Curis
commented. "Some funds that got in at the end of the third quarter got
burned. We're seeing activity on the noncontrol side, and we think the
control side will be the second stage." -
George WhiteSee more on the Limited Partner Summit
