Trash or Treasure? Finding Value in Distressed-Debt Investing
Moderator
Richard Cantor, Chief Risk Officer, Moody’s Corporation; Chief Credit Officer, Moody’s Investors Service
Speakers
Laurence Gottlieb, Chairman, CEO and Co-Founder, Fundamental Advisors LP
Christopher Pucillo, CEO and Chief Investment Officer, Solus Alternative Asset Management
Brian Reynolds , Founder and Managing Partner, Chatham Capital
Steven Shapiro, Founding Partner and Senior Portfolio Manager, GoldenTree Asset Management LP
With moderate growth and interest rates still low, there have been few pockets of opportunity for distressed-debt investors in the U.S. That may change if the Federal Reserve raises interest rates later this year and maturity walls need to be refinanced. In the meantime, investors have been flocking to Europe, where bank deleveraging has created opportunities in corporate credit and real estate. On this panel, some of the leaders in distressed-debt investing will share their strategies about uncovering value in today’s competitive markets. Will the expected rise in interest rates force an uptick in corporate defaults, or is the specter of deflation a greater threat? Which sectors are the most attractive in the current market? Which industries present the best opportunities and which should investors avoid?
