Distressed debt funds find opportunities in North America
The amount of dry powder available for distressed debt in North America has returned to pre-pandemic levels. Dry powder in the strategy dropped to $67.2bn as of September 2022, down from $71.5bn in 2021. The proportion of available capital to unrealized value has declined from 42% of AUM in 2020 to 34% as of September 2022.
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