Special Situations

We work with groups seeking control-oriented debt and equity investments in middle-market companies that have an element of distress, dislocation or dysfunction and that we perceive to be undervalued. We seek situations in which we can gain control of, or significant influence over, companies exhibiting such characteristics and then actively manage those businesses in an effort to deliver value as a private equity-like sponsor.

The cornerstone of our special situations strategy is its flexibility to invest across capital structures, whether by purchasing secondary market debt (distress-for-control) or making direct equity investments in distressed businesses.

Importantly, the strategy does not require a distressed macro environment to invest successfully, relying instead on “situational” distress that can be uncovered in any industry, sector or individual company at any point in the economic cycle.