Great disappointment for funds specializing in the buyout of debts of companies in difficulty, which expected a blessed period. In fact, the Covid-19 pandemic should have offered them very good investment opportunities. The sudden shutdown of part of the global economy and the collapse of financial markets in the spring of 2020 were to trigger an unprecedented number of bankruptcies. In order to come to the aid of the greatest possible number of companies struck down by the crisis, the turnaround funds, which buy bonds and bank loans from troubled companies at cut prices, have even doubled fundraising per year. latest. They thus garnered 47 billion dollars worldwide, unprecedented, even during the financial crisis of 2008, against 22.73 billion in 2019, according to Preqin.
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Private debt funds ready to take advantage of the crisis
However, nothing went as planned.
From the start of the pandemic, central banks such as the ECB or the US Federal Reserve massively strengthened their policies
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