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Sovereign wealth funds

Sovereign wealth funds

An in-depth look at the state-owned sovereign wealth funds that dominate the attention of the world's financial markets

Special focus: Sub-prime and leveraged loans

Special focus: Sub-prime and leveraged loans

Follow the buildup to today's subprime and leveraged loan problems.

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October 2007

Credit funds: Opportunity knocks

Firms rushing to set up credit opportunity funds might already be too late.




More on credit opportunity funds

"Everyone’s raising a lot of money, and by the time that money’s in place, is the opportunity going to be there?"
Richard Munn, Oak Hill Advisors


Thanks to the kind of lending practices that precipitated this summer’s credit crunch, many managers in the credit markets have long seen distressed debt as the next big thing. As long ago as 2005, firms such as Intermediate Capital Managers, Blue Bay Asset Management and Babson Capital were establishing credit opportunity funds to take advantage of stressed and distressed assets should the market turn. Now that it has, their ranks have been joined by a surge of new entrants with the same strategy in mind. But those now looking to set up such funds will be joining a very crowded marketplace.


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