Distressed & Special Situations
We take problems off your hands.
Everyone has investments they wish they hadn't made. Non-performing positions, legacy assets that can't be moved, illiquid holdings that advisors won't touch. We solve that problem — and you can even subscribe into our fund using those problem assets directly.
The Proposition
Monetise your worst decisions.
Family offices, institutions and high-net-worth individuals accumulate problem assets over time. Distressed positions that are too small for the big funds. Illiquid investments that no broker will bid on. Legacy holdings from ventures that didn't work out. Loans that went bad. Real estate that can't be sold. The embarrassments that sit at the bottom of every portfolio.
We don't pretend these problems don't exist. We buy them. We acquire distressed positions, non-performing assets and legacy investments at prices that reflect the reality of the situation — then apply three decades of restructuring experience to extract whatever value remains.
For the seller, this means closure. A clean balance sheet. Capital freed up for better opportunities. For us, it means acquiring assets at prices where the downside is already priced in.
"Rather than selling something to investors, we offer to take their worst problems off their hands. Everyone has problems. We help them move on."
The Opportunity
From the ashes of bad decisions, something valuable can be recovered. Not every distressed asset is worthless — most are simply mispriced by sellers who need them gone.
What We Acquire
Your problems. Our opportunity.
We evaluate and acquire distressed positions across a broad range of asset types and situations. If it has a problem attached to it, we want to hear about it.
Non-Performing Loans
Corporate and personal loans that have defaulted or are significantly behind on payments. We acquire the debt and work the recovery.
Illiquid Holdings
Positions in private companies, pre-IPO shares, fund lock-ups or structured products that cannot be sold through normal channels.
Legacy Legal Claims
Litigation assets, arbitration awards, insurance claims or judgments that have monetary value but require expertise to monetise.
Distressed Real Estate
Properties with legal complications, title issues, occupancy problems or development disputes. We navigate the complexity others avoid.
Failed Ventures
Equity or debt positions in businesses that didn't work out. Remainders of venture portfolios, collapsed SPACs, broken deals.
Restructuring Situations
Companies under formal or informal restructuring where existing holders want an exit. We step in as buyer of last resort.
Subscribe in Kind
You don't need cash to invest.
Bring what you have.
Most funds require cash subscriptions. We accept subscriptions in kind — meaning you can contribute your existing problem assets directly into the fund in exchange for shares. Your illiquid holdings, non-performing loans, distressed positions or digital assets become your investment.
This means you do not need to sell at a loss, find a buyer, or liquidate in unfavourable conditions. You transfer the asset, we take over the recovery work, and your participation in the fund reflects the value we ultimately extract. It is the cleanest way to convert a problem into a position.
Bitcoin & digital assets
Already holding crypto? Subscribe directly. No need to sell and re-buy.
Illiquid investments
Private equity, pre-IPO shares, locked fund positions — contribute them as-is.
Non-performing loans
Defaulted debt you hold? Transfer it to us. We work the recovery.
Legacy holdings
That venture from 2018 that never went anywhere. It may still have value we can extract.
For Family Offices
Clean up your portfolio.
We make it painless.
Every family office has positions they've written off mentally but never formally resolved. Legacy investments from a previous generation. Bad bets that nobody wants to explain at the next family meeting. Assets that cost more to litigate than they're worth.
Confidential Process
We understand discretion. Every conversation is private. Every acquisition is structured to minimise reputational exposure.
Fast Resolution
We move quickly. Once we agree on terms, the transaction closes in weeks — not the months or years of litigation.
Fair Pricing
We price problems honestly. You won't get par, but you will get certainty, speed and a clean exit that lets you move forward.
Process
How it works
You tell us
Describe the problem asset — what it is, what went wrong, what you've been told about recovery prospects. Everything is confidential.
We evaluate
Our team analyses the asset, the legal position, the capital structure and the realistic recovery scenarios. We do this at our own cost.
We make an offer
If we see value, we make a firm offer to acquire the position. The price reflects the risk, but it's a real bid — not an indication.
You move on
We close quickly. You receive cash. Your balance sheet is clean. We take on the recovery work — that's where our expertise lives.
Risk Considerations
An honest assessment
Distressed investing carries elevated risk. Recovery outcomes are inherently uncertain — legal proceedings may take years, asset values may decline further, and restructuring plans may fail. Even well-analysed positions can produce disappointing results.
Liquidity is extremely limited. Positions may be impossible to exit at reasonable prices, and investors in the distressed strategy should be prepared for extended holding periods. We mitigate these risks through exhaustive due diligence, conservative pricing and careful structural positioning — but some investments will underperform or result in loss.
Have a problem asset?
Tell us about it. Every conversation is confidential, and our evaluation costs you nothing.