PM Alpha’s newly launched Global Distressed & Special Situations product will provide access to three underlying strategies run by Apollo and Oaktree.
BY IAN HEATH
Alts boutique Private Markets Alpha has launched an events-driven strategy that will be its first regulated product.
The Global Distressed & Special Situations product is a ‘mini-blend’ of three underlying strategies from Apollo and Oaktree, which aim to capitalise on distress, deleveraging and financing needs in European and North American companies.
The strategy will allocate equally across the trio, targeting discounted senior positions in distressed and over-leveraged middle-market asset-heavy companies requiring urgent capital.
The minimum investment amount for the product will be €125,000 (£110,000).
PM Alpha was launched last year as a new digital private markets platform by three former Citi Private Bank executives and an ex-Neuberger Berman managing director.
PM Alpha’s chief executive officer, Tom Douie, said: ‘Our Global Distressed & Special Situations product offers an exclusive entry point for private investors into three underlying strategies that are generally limited to institutional investors, while ensuring attractive terms that are on par with institutional terms.’
Alexis Weber, who is CIO, said the current environment of ‘increased funding gaps caused by higher interest rates’ would create opportunities for distressed, special situations and real assets specialists.
‘The current broadened opportunity set is emerging with three key elements: repricing, refinancing, and restructuring of large corporate assets and SMEs,’ Weber said. ‘Non-traditional lenders, like specialist distressed and special situations investors, can capture assets from corporates at reduced valuations and better terms.’
The PM Alpha digital private markets platform and products are available to regulated wealth and asset managers and professional investors.