Activist Investing in Europe

From Activist Insight*   By the end of September, 2017 had seen more than 100 European-based companies publicly subjected to shareholder demands. Reached slightly later this year than last, and much earlier than in 2015, that milestone signals that if activism in Europe has lost its capacity to shock, its future also looks secure. Activity is still a long way […] Read more »

European Distressed Investing – Rising Opportunities

By Hedge Fund Insight staff At today’s Capital Connection Forum in London Distressed Investing in Europe was in focus.  These are the takeaways. First as reported on Twitter –   Brexit impact on UK legal services – “England is not being chosen as a venue to settle legal disputes” says Howard Morris of Morrison & Foerster.#Brexit […] Read more »

Euro Leveraged Loans Growing Especially Via SMAs

By Alastair Sewell, Manuel Arrive, and Brian Knudsen of Fitch Ratings   Summary Strong Growth, Low Base: Fitch Ratings estimates that open-ended Europe-domiciled loan funds have had strong average annual growth of 50%-60% over the last five years. However, this comes from a low base: Fitch estimates total assets of just EUR40bn across all European open-ended funds at end-June 2016, with […] Read more »

High Yield Blowout In Europe

By Dealogic/Hedge Fund Insight staff   EMEA High Yield (HY) issuance volume has surpassed EMEA leveraged loan volume by $7.0bn in 2015 YTD. This has happened for only the second YTD period on record, the first time being in 1998, when HY new issuance volume ($4.2bn) surpassed leveraged loan volume ($3.0bn) by $1.2bn. EMEA HY […] Read more »

The US Dollar – Novus Ordo Seclorum

dollar elephant 5

By Neil Azous Managing Member of Rareview Macro LLC   Most of us hand over dollar bills every day without ever really looking at them very closely. They are too familiar. But if you pause to look closely at the one dollar bill, you will see, right below the one-eyed pyramid, the Latin phrase “Novus […] Read more »

Review of Hedge Funds in 2012

By Charles Gubert, Editor of COOConnect Here is our take on what happened in 2012, and the clues we picked up as to what hedge fund COOs can look forward to over the next 12 months.  In the spirit of the season, and to make it a bit harder for ourselves, we decided to restrict […] Read more »

Oaktree Capital Sets Out To Seize Control in Europe

Howard Marks of Oaktree Capital Management There are a number of managers of distressed assets who are able to take a medium-to-long-term macro view about the viability of the opportunity set in front of them. Successful distressed investing is a cyclical phenomenon, such that there are better times than others to apply fresh capital to […] Read more »

Hedge Funds to Step Up In LBO Market in Europe

Just like the private equity business, Leveraged Buy Out (LBO) activity is usually subject to a cycle related to that of the stock market with a lag. On top of that in Europe there used to be laid a secular growth in LBO volume, and a long-term trend towards a wider variety of buy-out financing […] Read more »

Hedge Funds Positioning to Benefit from Euro Banks Spitting out Assets

“The Economist” (19th November 2011 edition) has just written about the market for assets being spat out of European banks. The article is reproduced below. For my part I see the market for leveraged loans in Europe becoming very attractive to buyers who know how to be selective, with, unlike the bank asset story, an […] Read more »