Aladdin sees “extraordinary investing opportunity” in DIP financing
Aladdin Capital is raising cash for a fund to invest exclusively in debtor-in-possession (DIP) facilities — lending done after a company has entered Chapter 11 and senior to the company’s other obligations — in what it claims is the first fund of its kind.
We believe the DIP financing market provides an extraordinary investing opportunity and will continue to do so as the corporate default rate spikes in 2009 and beyond, said Aladdin in a statement.
The fund will structure and lend directly to large-cap and mid-cap facilities, and will be industry agnostic.
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