Wasserstein Debt Opportunities’s flagship fund gained a net 52.9% last year, driven by bets including a restructured financial communications firm and an oil refiner.
The vehicle saw its biggest gains from positions in the first and second-lien debt of IPC after the financial communications technology company restructured its capital structure last year, according to a statement. It also benefited from debt and equity investments in crude oil processor Calumet Specialty Products Partners LP. The fund began building its positions in both companies in 2020.
Wasserstein Debt Opportunities was established in 2013 by Apollo Global Management alum Rajay Bagaria and ...
