Allegro closes Australia distress fund at $139m
Australian turnaround specialist Allegro Funds has closed its second vehicle at A$180 million ($139 million) and expects to see plenty of deal flow from domestic banks seeking alternative solutions to pushing distressed companies into insolvency.
Banks previously were willing to extend the expiry date on loans in order to give companies time to revitalize their business. But in the current lower growth environment, many have failed to improve EBITDA....
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