Distressed Credit & Special Situations

Fund Description

Fund Manager

Ruslan Patlavsky

CIO, Managing Director

Our Distressed Credit strategy is built around deep value investing in fundamentally sound but temporarily impaired credits across emerging and frontier markets. We focus on mispriced legal claims, balance sheet restructurings, and special situations with clear catalysts—offering asymmetric return potential and limited correlation to mainstream credit indices.

Investment Objective:
Capture deep value and recovery upside in stressed, defaulted, and post-restructuring credit
Liquidity:
12–36 months lock-up depending on share class
Benchmark:
None (absolute return, net of high watermark)
Recommended Holding Period:
5 years

Key Characteristics:

  • Public and private corporate and sovereign distressed credit and post-restructuring equity
  • Active engagement with restructuring processes
  • Exposure primarily to Africa, Latin America, and Central & Eastern Europe
  • Designed for well-informed and professional investors

Investments in the fund are restricted to professional and well-informed investors and are subject to a minimum initial investment of €125,000.

PERFORMANCE OF THE SHARES IS NOT GUARANTEED, AND PAST RESULTS ARE NOT A RELIABLE INDICATOR OF FUTURE PERFORMANCE. RETURNS MAY FLUCTUATE AND CAN BE AFFECTED BY MOVEMENTS IN EXCHANGE RATES. THE FUND IS EXTERNALLY MANAGED BY BLACKBEARD ASSET MANAGEMENT LTD, AN ALTERNATIVE INVESTMENT FUND MANAGER AUTHORISED AND REGULATED BY THE CYPRUS SECURITIES AND EXCHANGE COMMISSION.