Distressed funds
With ongoing economic and regulatory pressures, the funds industry continues to face challenging times. The unprecedented levels of redemption requests combined with poor liquidity and pricing and valuation difficulties has forced investment managers to take substantive action to protect assets under management.
The Deloitte approach to distressed funds
At Deloitte, the Reorganisation Services team has the ability to draw on individuals with considerable industry experience and with broad and varied backgrounds to work with funds to help manage distressed funds and other troubled aspects of portfolios. We regularly advise on a wide range of issues facing the industry in addition to acting in formal capacities.
- Assisting with the creation of alternative structures to deal with adverse liquidity conditions including the implementation of lock-ups or the use of side-pocket structures to isolate distressed assets.
- Advising in relation to the use of gates, suspension of redemptions and/or of NAV calculations.
- Formulating workouts and informal restructurings.
- Assistance with the downsizing of portfolios.
- Advising on appropriate liquidation strategies to preserve/maximise investor value.
- Project managing and implementing the solvent wind down of funds, across multiple jurisdictions.
- Conducting due diligence on distressed debt portfolios, especially bank divestures.
- Acting in formal capacities e.g. Liquidators, Receivers.
- Assisting with the identification of opportunities for investment in distressed companies.
- Working with underperforming portfolio companies by undertaking business reviews or outlining exit strategies.
- Undertaking operation and performance reviews.
Specifically, Deloitte has an outstanding record of managing and implementing complex structured finance restructuring transactions and advising both companies and their stakeholders in such transactions. We hold a market leading position in restructuring Structured Investment Vehicles and are recognised as global leaders in securitisation accounting, having been voted top securitisation accountancy firm by the ISR 11 years in succession.
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