Distressed firm Fortelus restructures after redemptions, sees ‘exceptional’ multi-year opportunity set in Europe

Mon Jul 23, 2012

Read more:




Tim Babich
Fortelus Capital Management, the European distressed specialist founded in 2007 by former Silver Point man Tim Babich, has undergone a restructuring in the wake of significant redemptions by investors to enable it to pursue what it regards as "exceptional" investment opportunities in Europe over the next few years with a more secure long-term capital base.

Fortelus offered all of its investors a 'one-time option' that was passed at an EGM in late June to redeem or remain in the Fortelus Special Situations Fund - which launched in April 2007 and has achieved an annualised return of some 7.6%, despite losing 14.5% in 2011.

Under...

ISSN: 2151-1845 / CDC10004H

TAKE A FREE TRIAL

The full contents of this article are only available to active EuroHedge subscribers and trialists.

To continue reading please,
take a free trialsubscribe or log in to EuroHedge.

Subscribe

Subscribers have unlimited access to all current content, including hedge fund performance Live League Tables. Start your subscription today - click on the button below.

Subscribe now