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Based on the most helpful WSO content, Elliott Management's Global Situational Investing Group is known for its flexible mandate, allowing it to engage in a variety of investment strategies, including buyouts and distressed situations. Here are some key points:

  • Elliott Management: Known for its activist approach, Elliott's Global Situational Investing Group has a wide-open mandate, partnering with other buyout shops like Vista and Veritas on larger deals. They have been involved in various types of investments such as take privates, LBOs, growth buyouts, carve-outs, and minority growth investments.

Other funds or groups with a similar investment style or mandate include:

  • Beachpoint: Focused on stressed/liquid credit and some distressed situations. They have unique strategies, including a dedicated PE/real estate fund.
  • Baupost: Allocates significant capital to distressed situations.
  • King Street: Known for significant distressed capital allocation, though facing big redemptions.
  • GSO (Blackstone): Invests in distressed situations.
  • Centerbridge: Significant distressed capital allocation.
  • Apollo: Engages in distressed investing.
  • KKR: Involved in distressed investing to a smaller extent.
  • Carlyle: Engages in distressed investing to an even smaller extent.

These funds are known for their ability to handle large cap situations and creatively extract value from distressed investments.

Sources: Top firms for distressed investing. Solving for brand and deal experience more than ability to growth within the organization., Any info on Elliott?, Citadel Global Equities (pay, culture, career path, lifestyle), Which of the large liquid distressed managers are still good seats?, Focusing on Investment Style Fit

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Oh, so is there a separate team that only does distressed investing and sovereign stuff now?

 
permashoRRt

Do they still do distressed? Haven't seen them in any structures ex BTU in recent years

Short answer is yes.  They are publicly huge in a few distressed structures including SFR, MacAfee Enterprise, Thames, and WIN / UNIT. A few other structures they are pretty large in non-publicly but hold $100-300m+ cost position sizes in them.  Has not been a core focus for them given the amount they need to buy to move needle. 

 

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