The decline of global distress?
Investors are flocking to North America, particularly for distressed debt; the geography made up an outsized portion of the total capital raised for the strategy in the first quarter.
The fundraising pendulum may be swinging back to North America, as we wrote several weeks ago, and that shift is particularly noticeable in distressed debt.
North American funds targeting troubled companies closed on 31.37 percent of the distressed debt capital in the first quarter, almost three times more than the 10.88 percent raised for the continent in 2017.