Best (advanced) PE fund strategies overview

Based on the most helpful WSO content, here's an overview of advanced PE fund strategies and their specialties:

Private Equity Fund Strategies Overview

1. Distressed Lending / Minority Equity:

   • Funds in this category focus on private distressed lending with some secondary allocations. Examples include:
     • Ares Special Ops
     • Atlantic Park
     • HPS
     • MGG
     • Blue Torch
     • Apollo Hybrid Value
     • Owl Rock Opportunistic
     • Carlyle Opportunistic
     • Brookfield Special Investments (equity-leaning)
     • Sixth Street Strategic Capital (equity-leaning)
     • Clearlake Opportunities
     • Blackstone TacOpps (equity-leaning)
     • Blackrock Opportunistic
     • Goldman Hybrid Capital
     • Golub Opportunistic
     • Victory Park
     • Fortress Private Credit

2. Loan-to-Own / Control-Oriented Shops / 363 Players:

   • These funds aim to gain control of distressed companies, often through bankruptcy processes like 363 sales. Key players include:
     • Apollo PE
     • SVPGlobal (also has a hedge fund arm)
     • Oaktree Special Situations
     • KPS
     • Stellex
     • Monomoy
     • Middleground
     • Cerberus PE
     • Lone Star
     • Centerbridge PE
     • Clearlake
     • HIG PE
     • Ares Corporate PE
     • Wynnchurch
     • Gamut
     • Brookfield PE
     • Searchlight
     • Platinum
     • American Industrial Partners

3. Secondary Distressed Players:

   • These funds often have illiquid buckets for distressed lending but also play in secondary markets. Examples include:
     • Goldentree

Special Situations and Niche Strategies

• Funds like Clearlake, Apollo, and Oaktree are known for their flexibility and ability to operate across multiple strategies, including special situations and turnarounds.
• Some funds lean more heavily on equity strategies, while others focus on credit or hybrid approaches.

If you're specifically looking for London-based funds, many of these global players have a strong presence in London, and their strategies often align with their global mandates. For niche strategies like special situations, distressed debt, or carveouts, funds like Apollo, Oaktree, and Clearlake are worth exploring further.

Let me know if you'd like more details on any specific strategy or fund!

Sources: Breaking down distressed funds by strategy, Breaking down distressed funds by strategy, Mining Private Equity Firms, Which investing strategy will be most challenged this decade (‘20 through ‘29)?, Q&A: PE Secondaries Principal