Barclays spinout Glendon targets up to $2 bln for reserve distressed-debt fund

Barclays, Glendon, private equity
A Barclays sign is seen outside a branch of the bank in London, Britain, February 23, 2017. Photo courtesy REUTERS/Stefan Wermuth - RTSZZTM
  • Glendon targets $2 bln for reserve fund
  • First close expected this month
  • Firm formed in 2013 by Barclays executives
Glendon Capital Management, a Barclays spinout that invests in distressed debt, is raising up to $2 billion for a reserve fund that could be activated in a market downturn, a source with knowledge of the process told Buyouts. Glendon may amass ...
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