Dry Powder for Distress
Who is sitting on all of the dry powder for distressed deals? I saw an article stating $120B to $150B in dry powder. Which firms have raised the cash and how much? I assume we will be seeing some mega firms by out debt funds in the near future at cents on the dollar when debt fund credit lines get called in. Besides buying out underwater debt funds, where is this dry powder going to deploy capital?
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