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The following private equity firm or hedge fund owned companies have filed for bankruptcy protection: A&P (grocery chain) [1] Brookstone [2] Envision Healthcare [3] Friendly's [1] GenesisCare [3] Instant Brands (maker of Instant Pot and Pyrex) [4] Kmart [5] Party City [6] Payless Shoe Source [2] Prospect Medical Holdings [7] RadioShack [2] Red ...
The market developed for distressed securities as the number of large public companies in financial distress increased in the 1980s and early 1990s. [5] In 1992, professor Edward Altman, who developed the Altman Z-score formula for predicting bankruptcy in 1968, estimated "the market value of the debt securities" of distressed firms as "is approximately $20.5 billion, a $42.6 billion in face ...
Avenue's investment professionals seek "good companies with bad balance sheets" — firms with sustainable businesses and positive cash flow but whose financial situation is distressed. The investment team uses Avenue's top-down/bottom-up approach to find undervalued opportunities and typically seeks to make non-operational control investments ...
Appaloosa invests in the global public equity and fixed income markets with a focus on "equities and debt of distressed companies, bonds, exchange warrants, options, futures, notes, and junk bonds." [ 1 ] According to BusinessWeek , the firm's client base consists of high-net-worth individuals , pension and profit sharing plans , corporations ...
WL Ross & Co is a private equity company founded and based in New York by Wilbur Ross in April 2000. The company focuses on investments in financially distressed companies with undervalued stocks, in the $100 to $200 million range, usually in the United States, Asia, Korea, Ireland, Japan, France and China.
In 2016, Mudrick Capital’s Distressed Opportunity Fund ranked 1st on Bloomberg’s 100 top-performing large hedge funds with a 38.7% return that year. [ 6 ] In September 2017, the firm converted its 15.3% stake in Verso Corporation , a paper milling company, into an activist holding, citing frustration with the board’s inaction to address ...
A vulture fund is a hedge fund or private-equity fund that invests in debt considered to be very weak or in default, known as distressed debt. [2] Investors in the fund profit by buying debt at a discounted price on a secondary market and then using numerous methods to sell the debt for more than the purchasing price.
MatlinPatterson's distressed business pursues illiquid control and activist non-control investment strategies, as well as a range of liquid trading strategies.The firm's control strategies are characterized by its controlling or active participation in distressed companies and their restructurings require a long-term investment outlook.