PDI Picks – 4/8/2024

The rise of quasi-distress

As fund managers become adept at heading off problems before they threaten to kill companies off, distressed strategies are changing in nature.

The news in August last year that Oaktree Capital Management was in the market with an ambitious $18 billion target for its latest opportunistic credit fund highlights the burgeoning appetite among LPs for strategies predicated on supporting complex borrowers through challenging times.