Distressed vs. Traditional Buyout
Maybe a stupid inquiry (I'm newer in the industry) but why do some folks prefer to go the distressed PE route rather than a traditional buyout fund? Is investing in companies at/near bankrupcy more high risk, high reward? Is it the more operational focus, or turnaround-centric strategy?
Just trying to pick someone in the space's brain here. Thanks!
not referring to HF / credit