Fund 1 8%, fund 2 5%, when will fund implode?
I’m at a distressed credit fund whose fund 1 from 2020 returned 8%, and fund 2 from 2023 is returning 5% with a big loss. PM says fundraising for fund 3 is underway but it seems challenging: incidentally we had an MD opening that has been unfilled for 2 years. Thoughts on the situation ?
Imminently.
Cooked bro
Bro, you're working at a distressed
creditfundLmao is this Marathon
it is 150% marathon, Marathon Distressed Credit Fund (2020) has a 9% bloomberg reported IRR and Marathon Distressed Credit Fund II has 6% (started raising in 2023 and final close in 2025). they got their shit rocked in First Brands, feel bad for people who still work there.
That’s not too bad
Is that annualized or total return ? Welcome to distressed, where it’s all downside, no upside.
Sounds like a shit show. Which place is this?
lol
Aside from First Brands, what do you think are the reasons your fund has gotten smacked around so badly?
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