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Entries tagged "distressed debt"Corporate defaults soar in MarchAccording to Moody's Investors Service the default rate shot up to 7% in March from 4.1% in February, as 35 companies went into default. Things get serious for SiriusSirius seems stuck between a rock and a hard place. Should the company accept Echostar's capital injection, it would have to cede control to an industry rival. Investors say bottom near for distressed debtIt's no secret that distressed debt is being closely studied by investors seeking to capitalize on today's down market. Loans and bonds are currently trading at deep discounts, but when it comes to buying them, timing is crucial as investors at the TMA/The Deal's Distressed Investing Conference in Las Vegas pointed out. A survey released by Debtwire on Tuesday reaffirms their point of view-- pointing out that many investors tend to believe the market bottom will occur in the first half of this year.... Pimco raising a $5B mortgage-backed debt fundThe list of buyers gearing up to acquire discounted debt is getting even longer, as bond managing giant Pacific Investment Management Co. is raising as much as $5 billion to scoop up mortgage-backed debt. ... Apollo raising $2B European distressed debt fundApollo Global Management is moving into distressed debt in a big way as it bets that banks will be willing to part with loans to under performing companies at deep discounts. The private equity firm has already received $2.3 billion for distressed investing in the U.S. from Calpers, but has plans to raise a further £1.1 billion ($2 billion) for a European-focused distressed fund.... Calpers backs three Apollo distressed debt funds with $2.3BWith corporate defaults expected to keep soaring, the nation's largest pension fund, the California Public Employees' Retirement System, has reallocated $2.3 billion from its stock holdings into a trio of distressed-debt funds run by Apollo Global Management LLC. ... Distressed debt hedge fund Turnberry Capital to liquidateTrying to catch the falling knife hasn't worked out too well for distressed investing hedge fund Turnberry Capital Management LP, which plans to shut down and return capital. ... Report: Third Avenue plans $3B distressed PE fundThird Avenue Management LLC, founded by longtime distressed debt specialist and activist investor Marty Whitman, will join the increasing ranks of investors launching private equity funds targeting distressed companies. The firm is planning to raise a $3 billion private equity fund keying in on distressed securities, according to a Tuesday Wall Street Journal report. A Third Avenue spokesman declined to comment. ... Private Capital Symposium: Deutsche Bank's Eydenberg on debt markets, and the bottomAt The Deal's Fifth Annual Private Capital Symposium Wednesday, John Eydenberg, the head of leveraged finance at Deutsche Bank Securities, gave his take on the state of the debt markets. ... Private Capital Symposium: S&P's Diane Vazza on default rates, recessionAt The Deal's Fifth Annual Private Capital Symposium, Diane Vazza, a managing director and head of global fixed-income research at Standard & Poor's, gave a rundown of what is happening with defaults. ... Private Capital Symposium: KPS' Palmer on distressed investingOn the distressed investing panel at The Deal's Fifth Annual Private Capital Symposium Raquel Palmer, a partner at KPS Special Situations, talked about how the distressed opportunities are unfolding differently in the current cycle than in prior downturns. ... HRJ Capital closes $195M distressed fund-of-fundsLike 20 years ago, Ronnie Lott and Harris Barton are on a tear, a fundraising tear that is. The former San Francisco 49ers private equity firm, HRJ Capital, has closed three different funds-of-funds devoted to three different investment areas since February. The latest is a $195 million distressed investing fund announced Monday. The capital is already fully committed to U.S. and international private equity funds that invest in distressed debt, restructuring, turnaround and special situation deals. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "distressed debt." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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