Monday, 10 September 2007




LONDON (Reuters) - Banks, hedge funds and private equity firms are poised to pour billions of dollars into leveraged loans and distressed debt to capitalise on the recent credit market turmoil.

The investment community is struggling to absorb about $300 billion (150 billion pounds) of global loans in the pipeline, most coming from the record-setting leveraged buyout boom in the first half.

About 13 distressed funds have raised $23 billion through August, already topping the $18 billion raised for such funds in all of 2006, according to research firm Private Equity Intelligence (Preqin).


Distressed debt specialist MatlinPatterson raised a $4.5 billion fund last month and Newport Global Advisors, a unit of buyout firm Providence Equity Partners, also raised a $500 million fund in August, Preqin said.

It added that the prospects of distressed investing look "better than ever."


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