Saturday, 1 November 2014
Last updated 23 hours ago
Feb 5 2013 | 2:33am ET
Avenue Capital Group is readying its third European distressed debt fund.
The New York-based hedge fund is seeking just $500 million for the new vehicle, a far cry from the $2.78 billion it raised for its Europe Special Situations Fund II last year. But like the existing fund, the new fund will take a private-equity approach to investing in distressed and undervalued European securities, as well as direct-lending, The New York Times reports.
Avenue already has about one-third of its $12 billion in assets invested in Europe. The firm's founder, Marc Lasry, said in July that Avenue is making a "three- to five-year bet" on Europe.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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