Alchemy Considers Raising £1 Billion Distressed Fund

Opportunities in the distressed debt and special situations sector are such that buyout chief Jon Moulton is considering raising another fund to target the space, just eighteen months after raising a previous vehicle.

According to a report in the Financial Times, Moulton, through his private equity firm Alchemy Partners, is considering raising £1bn for distressed opportunities.

His firm closed a £300m fund in March 2007 to target the space.

Distressed debt as an asset class is becoming increasingly attractive to institutional investors amid a belief that opportunities in this area will be abundant in 2009.

Source: Thomson Merger News