Investing in Distressed Debt

Abstract

Theis paper provides a broad framework to understand credit investing, from an alternative investments perspective. It brings a practitioner's perspective, interesting nuanced insights, dispenses with artificial distinctions in integrating private equity and hedge fund formats, touches upon investment considerations such as risk and return drivers, and explains market dynamics. The paper straddles control, non control and trading approaches in an elegant framework and provides good perspective on 'what goes on behind the scenes' in such approaches to investing.