{"id":9922,"date":"2009-02-19T00:00:00","date_gmt":"2009-02-19T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"distress-funds-buy-countrywide","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2009\/distress-funds-buy-countrywide.html","title":{"rendered":"&#8216;Distress funds&#8217; buy Countrywide"},"content":{"rendered":"<p>Guardian Unlimited &#8211; Three &quot;distressed debt investors&quot; &#8211; hedge fund Polygon, restructuring specialist Oaktree and private equity firm Alchemy &#8211; have taken control of Countrywide, Britain&#8217;s biggest residential estate agent, which was bought by US private equity firm Apollo less than two years ago for about &pound;1bn, mostly financed by debt. Together, they have taken a majority stake for one-third of the price paid by Apollo.<\/p>\n<p>Distressed debt investors, which specialise in buying financial instruments relating to troubled companies at rock-bottom prices, have been saying for two years that buying debt on the &quot;secondary market&quot; &#8211; where company loans are traded after the original lender has sold the debt on &#8211; was too expensive. Now, they appear to be judging it the right time to move back in. <\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.guardian.co.uk\/business\/2009\/feb\/19\/distress-debt-investors\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Guardian Unlimited &#8211; Three &quot;distressed debt investors&quot; &#8211; hedge fund Polygon, restructuring specialist Oaktree and private equity firm Alchemy &#8211; have taken control of Countrywide, Britain&#8217;s biggest residential estate agent, which was bought by US private equity firm Apollo less [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4304,7725,5767,3911,2070,131,7229,4298,4518,7806,7808,3448,7805,7807],"class_list":["post-9922","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-alchemy","tag-apollo","tag-distressed-debt-investors","tag-financial-instruments","tag-guardian-unlimited","tag-loans","tag-majority-stake","tag-oaktree","tag-private-equity-firm","tag-residential-estate","tag-restructuring","tag-right-time","tag-rock-bottom-prices","tag-troubled-companies"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9922"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9922\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}