Bloomberg – Nikolaus & Co. LLP, a restructuring specialist established in Germany in 2001, is raising as much as $50 million to invest in distressed debt as it bets a slowing recovery will lead to “unprecedented” defaults.
Nikolaus’s Alloro Global Special Situations Fund will be based in London and marks the firm’s first expansion into hedge- fund management. The fund will focus on Europe, the former Soviet Union and Latin America and will target debt sold by telecoms, manufacturing and financial companies, said Chief Investment Officer Stefan Benedetti.
