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

Mon Jul 23, 2012

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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

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