Solus Funds Get $1.1 Billion for Bankruptcy Investments
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Solus Alternative Asset Management LP raised $1.1 billion for two funds that invest in bankruptcy claims and are overseen by a team including Scott Martin and C.J. Lanktree, former co-heads of distressed products at Deutsche Bank AG.
Solus Recovery Fund I and II gathered the money within the last 12 months, the firm said in a letter to clients dated March 5, a copy of which was obtained by Bloomberg News. Martin and Lanktree run the funds, which are closed to new investments, with Christopher Pucillo, the firm’s president and chief investment officer, to whom they report.