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Special Situations

Michael Psaros
A number of turnaround investors have adapted their models to healthier businesses over the past decade amid a shortage of distressed opportunities.
Intriva Capital has held a first close on its sophomore fund which will target small to mid-market companies experiencing distress.
New York
The New York-headquartered firm, which makes control-oriented investments in financially or operationally distressed companies, will focus mainly on the industrial sector.
The Swiss banking group will seek up to €200m for a vehicle targeting primary fund commitments, directs and secondaries opportunities across private equity, debt and real estate.
The firm is aiming to hold a first close for Bain Capital Special Situations Europe in April, according to a Bain document seen by PEI.
The special situations investment shop is expected to invest in fewer than 20 companies.
The special situations manager has secured commitments from mostly offshore LPs such as funds of funds, European family offices, and US and Asian endowments.
Brexit is a large contributor to challenges that have plagued Terra Firma’s portfolio company Four Seasons Health Care, he said at a PEI conference in New York.

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