Back to the Future: Are We on the Verge of an Old-Fashioned Distressed Cycle?
Elevated base rates are setting the stage for what may be a protracted distressed cycle—an environment marked by increased restructurings, defaults and bankruptcies.
We believe 2024 and the years ahead will be especially active for distressed investors. As capital structures come under pressure from elevated rates and the global maturity wall approaches, we expect a rich opportunity set to emerge across a wide range of industries, asset classes and jurisdictions.
