Corporate insolvencies in the U.K. are expected to hit 5,000 by the end of the year, according to research from accountancy firm KPMG.
Pembroke, Bermuda-based reinsurance group PartnerRe has allocated an undisclosed amount to a fund investing in distressed assets.
NewOak Capital has hired Patrick Mooney, most recently a managing director at the Securities Industry and Financial Markets Association, as its chief operating officer.
Citigroup has sold the servicing rights to a portfolio of 185,000 loans, which includes some distressed loans, to Irving, Tex.-based subprime specialist American Home Mortgage Servicing for $1.5 billion.
Distressed private equity firm Watermill Group has hired back two of its founding members as it returns to its original focus of distressed equity investments.
Broker dealer BTIG is launching a fixed income group which will include the trading of distressed debt.
London-based private equity house Benson Elliot Capital Management has closed Benson Elliot Real Estate Partners III, a pan-European distressed real estate fund.